Wednesday, November 10, 2010

20101110 1001 Malaysia Corporate News.

KFC Holdings: MD not aware of any plans to privatise KFCH. KFC Holdings Bhd's (KFCH) top official has brushed off talks that the firm is a takeover target by a substantial shareholder, as the stock surged to a fresh high yesterday. The counter had risen 130% over the past six months while shares in QSR surged 80% and Kulim rose 76% over the same period. (Source: The Star)

Autos: Consolidation of auto sector could be done soon. The Malaysian Automotive Institute (MAI) is understood to have submitted its proposals and recommendations pertaining to the consolidation of the automotive sector to the government for a final decision of the merger between the players. The proposed consolidation is expected to entail a merger between two national automakers, Proton Holdings Bhd and Perusahaan Otomobil Sdn Bhd (Perodua). (Source: The Edge Financial Daily)

Banking: RM150mil banking talent boost. The Institute of Bankers Malaysia plans to use the RM150mil staff training fund for various capacity development initiatives in the financial services sector over the next five years. They included collaborations with local and foreign universities to churn out more learning programmes to help reduce the shortage of talent in the banking and financial services sector. (Source: The Star)

Plantation: RSPO unveils "Sustainable Palm Oil" Trademark. The Roundtable on Sustainable Palm Oil (RSPO) Tuesday unveiled a trademark that will enable consumers to identify consumer products containing sustainable palm ingredients. (Source: Bernama) 

IJM Corp bags RM690m cancer institute contract
IJM Corp’s (IJM) joint-venture company Kiar Teratai-IJM Joint Venture yesterday received a letter of award from Kiara Teratai SB for the construction and maintenance of the National Cancer Institute. The contract worth RM690m involves the construction of a hospital block, which entails the building of a sub-basement for radiotherapy treatment, one level for a carpark, four levels of oncology diagnostic and treatment services, and two blocks of seven levels for in-patient wards. The construction is targeted to be completed on 31 Aug 2013. Kiara Teratai-IJM joint venture is 60% controlled by Kiara Teratai SB and 40% by IJM Construction SB, a wholly owned subsidiary of IJM. (FinancialDaily)

Salcon secures RM52m contract in Kelantan
Salcon’s wholly-owned subsidiary, Salcon Engineering has accepted a RM52.462m contract from Air Kelantan SB, the water supplier and distributor in the state. The contract is for construction, upgrading, completion, testing and commissioning of the Pintu Geng Water Treatment Plant and related works in Kota Baharu. The project is to be completed in 20 months from the date of the site possession. (MalaysianReserve)

Bintulu Port hires boats for two companies
Bintulu Port Holdings has hired three handling tug boats for a total cost of RM66.38m. The two tug boats will be 25-tonne ship-handling tugs and come complete with crew. These vessels are chartered for 10 years from Sing Kiong Hong SB at a cost of RM37.91m, or RM5,192.5 per day, for Bintulu Port SB. The single 45-tonne ship handling tug vessel is chartered from Bunga Tenaga SB for RM28.47m or RM7,800 per day for a 10-yaer period as well. (MalaysianReserve)

PLUS accepts UEM-EPF offer
PLUS Expressway has given the go-ahead to UEM Group and the Employees Provident Fund’s (UEM-EPF) take over offer of RM23bn. Earlier, PLUS requested an extension to the acceptance deadline from 29 Oct to yesterday. Now the offer will be tabled to PLUS’ shareholders at an extraordinary general meeting, scheduled to take place next month. To recap, on 15 Oct, PLUS received an offer from UEM-EPF to acquire all its businesses and undertakings, including assets and liabilities for RM4.60 per share. UEM-EPF would then incorporate a special purpose vehicle for the acquisition, where UEM would hold 51% with the EPF holding the rest. (FinancialDaily)

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