Maybank: Fixes new shares under dividend reinvestment at RM7.70. Malayan Banking Bhd has fixed the issue price of new Maybank shares to be issued under the dividend reinvestment plan at RM7.70 per share. On behalf of the Board, Maybank IB, announced the Book Closure Date pursuant to the Final Dividend and Dividend Reinvestment Plan has been fixed for 18 November 2010. The new Maybank Shares arising from the Dividend Reinvestment Plan will be listed on the Main Market of Bursa Malaysia Securities Berhad on 21 December 2010. (Source: Bursa Malaysia)
LBS Bina: China Project expected to start next year. LBS Bina Group Bhd's China project in the southern city of Zhuhai with an estimated gross development value of (GDV) of RM5b is expected to start in the third or fourth quarter of next year. Last month, LBS Bina announced that it will sell a 10% equity stake in its Chinese joint ventures (JV) to its JV partner, Zhuhai Special Economic Zone Long Yi Enterprises Co for RMB200m (RM9.25m). Each party will own 50% of the JVs post transaction. The agreement would pave way to kick-start the property project which was deadlocked in the past. (Source: The Edge Financial Daily)
Mulpha: Goldman Sachs increases Mulpha stake to 5.74%. Mulpha International Bhd, which saw active trading recently on news that its associate FKP property was a takeover target, saw The Goldman Sachs Group Inc accumulate more shares in Mulpha. Goldman Sachs increased its shareholding to 135.2m shares or 5.74% equity interest. It was reported that FKP was a possible takeover target by Stockland, a leading Australian property developer. (Source: The Edge Financial Weekly)
Sapura Resources: Disposes of stakes in APIIT, UCTI. Sapura Resources Bhd (SRB) has proposed to dispose of 51% equity interest each in APIIT Sdn Bhd and Asia Pacific UCTI Sdn Bhd (UCTI) to Ontime Sdn Bhd for RM102m. SRB said net proceeds from the proposed disposal may be channelled towards the acquisition of new businesses, expansion of existing business and to pare down borrowings. The proposed disposal is expected to result in a one-off net gain of RM68.9m and upon completion of the exercise. (Source: The Star)
MCA buys 42% stake in Star for RM1.28bn
MCA last Friday announced it has bought a 42.4% stake in Star Publications (M) Bhd for RM1.28bn, or RM4.09 a share, from its wholly-owned subsidiary Huaren Holdings SB and is in the process of maintaining its beneficial interest in Star. “The transfer is effected for the purpose of reorganising MCA’s investments, whereby Huaren Holdings will divest its passive investment in Star and increase focus on its investments in unquoted shares and other assets, in order to achieve greater management efficiency and provide maximum return to stakeholders,” said MCA in a statement. “MCA’s investments in Star will continue to be passive and long-term in nature” it said. (StarBiz)
Axiata signs 5-year pact with Ericsson Axiata Group Bhd will, for the next five years, streamline its procurement of products and services with Ericsson to realize business efficiencies and competitive advantage though cash flow improvement. Earlier last week, they signed an agreement to facilitate regular exchange of information on technical and technological areas relating to products, works and services purchased by Axiata group of companies.(StarBiz)
UEM Land bid gets 40% votes
UEM Land Holdings Bhd’s proposed takeover of Sunrise Bhd for RM1.39bn, or RM2.80 per share, has received an acceptance level of 40.3% from three major shareholders of Sunrise. UEM Land managing director/chief executive officer Datuk Wan Abdullah Wan Ibrahim said the group had received irrevocable undertakings to accept its offer from Datuk Tong Kooi Ong, Tan Sri Tan Chee Sing and Datuk Lim Kim Huat. According to filings with Bursa Malaysia, Casa Unggul SB (a company controlled by Tong) owns 24.41% stake in Sunrise. Other shareholders include Phoenixflex SB (8.46%), Lim (7.24%), Tong (0.22%) and Tan (0.01%). (StarBiz)
Ramunia OGW signs MoU with Dongnam Marine Crane
Ramunia Holdings Bhd announced that its wholly-owned subsidiary, O&G Works SB (OGW) signed a memorandum of understanding with Dongnam Marine Crane Co Ltd (DMC) from South Korea. The MoU will provide a preliminary framework for a potential collaboration between OGW and DMC to undertake tendering. Bidding and manufacturing of any contract involving engineering, design, procurement and fabrication of offshore pedestal cranes; marine cranes. And any other make of cranes for the oil and gas industry and any other industries which require such supplies. (Malaysian Reserve)
Sarawak Cable inks contract worth RM98.6m
Sarawak Cable Bhd’s subsidiary Universal Cable (Sarawak) SB (UCS) and JV partner Sinohydro Corporation (M) SB (Sinohydro) have received an RM98.6m contract from Sarawak Energy Bhd for the design, supply, delivery, construction and commissioning of 275KV Murum-Murum Junction Transmission Line. (Malaysian Reserve)
No comments:
Post a Comment