4 Nov for Galas by-election
The Election Commission has set 4 Nov as polling day for the Galas state assembly seat, if there is a contest, while nomination day is 26 Oct, its deputy chairman, Datuk Wan Ahmad Wan Omar announced. (The Star)
Petronas said to want RM5 a share for petrochem IPO
Petronas plans to sell shares of its petrochemical business unit for at least RM5 per share under the upcoming initial share sale. The IPO of Petronas Chemicals may raise in excess USD3bn if the shares are priced between RM5.20 and RM5.60 apiece, two people familiar with the matter said. (Malaysian Reserve)
Malaysia Marine IPO to raise RM2bn
The listing of Malaysia Marine and Heavy Engineering Holdings (MMHE) will see the country's biggest IPO for the year yet raising some RM2bn. The IPO consists of a public issue of 262m shares for institutional and retail investors, an allocation by parent MISC to French oilfield services group, Technip SA, and an offer for sale of shares by MISC. Only about RM946m of the proceeds will go to MMHE, while MISC will pocket the remainder. (BT)
Proton favors end-of-life vehicle policy in Budget 2011
Proton hopes the government will consider under Budget 2011 the end-of-life vehicle policy to sustain the automotive industry in the country. Group MD Datuk Syed Zainal Abidin Syed Mohamed Tahir said the policy provided an immediate impact to the whole ecosystem as implemented under the stimulus package a year ago.(Financial Daily)
Dialog bags RM60.7m contract from Petronas Carigali
Dialog has bagged a RM60.7m contract from Petronas Carigali. The contract was for its unit Dialog E&C SB to provide Petronas with engineering, procurement, construction and commissioning of a new condensate tank and associated facilities at Bintulu Crude Oil Terminal. (Financial Daily)
Chin declines further comment on Langat 2 action
The Energy, Green Technology and Water Minister declined to comment further on his recent statement that legal action may be taken against Selangor if the state continued to delay the construction of Langat 2 water treatment plant past December, thought Datuk Seri Peter Chin also said he would like to see the matter settled amicably. (StarBiz)
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