Friday, November 26, 2010

20101126 1007 Malaysia Corporate News.

Carlyle makes spicy RM1.9bn offer for QSR
Washington based private equity firm Carlyle Asia Investments Advisors has made an offer to take QSR Brands private for RM1.9bn, topping an earlier bid by Idaman Saga SB- a company linked to business tycoon Tan Sri Halim Said. According to QSR’s parent company Kulim (M), the fund manager has made a non-binding offer to buy all QSR shares for RM6.70 each, 20% higher than Idaman Saga’s RM5.60 offer. QSR shares are currently traded at RM5.61. Pending a due diligence process by Carlyle, the company said QSR and its subsidiaries will not raise capital or declare dividends. (Malaysian Reserve)

LRT extension jobs to be awarded soon
The government is expected to award the jobs for the long-awaited light rail transit (LRT) extension project soon, and successful bidders have been short listed. According to a source familiar with the matter, parties that had lobbied for the LRT extension jobs for the Ampang and Kelana Jaya lines include UEM Group, IJM Corp, Bina Puri and TRC Synergies. The contracts to be awarded will be the building of LRT stations, laying groundwork and alignment before constructing the railway. The total extension length of the Kelana Jaya line is 17km and for the Ampang line 17.7km. Both extensions will see an additional 13 stations. (Financial Daily)

Petronas to invest in Johor O&G hub
Petronas will play a major role in the development of Johor’s south-east areas of Teluk Ramunia and Pengerang into a new oil and gas (O&G) hub in the region. Prime Minister Datuk Seri Najib Tun Razak said investments in the hub would come from Petronas and its international partners. He said the investments would bring major development into Johor’s south-east areas and could turn Teluk Ramunia and Pengerang into a new Kerteh. Once a sleepy fishing village in Terengganu, Kerteh is now a thriving township due to O&G related activities with Petronas as the main driver in the O&G sector there. “While investments will come from Petronas and its partners, the Government is looking into allocating money for infrastructure development in the areas,” Najib said at the opening of the 140m-euro Asiaflex Products plant in Tanjung Langsat industrial area yesterday. (StarBiz)

Construction work on Penang Sentral to start next month
Construction work on the Penang Sentral Integrated Transport Hub in Butterworth is expected to begin next month, according to developer Malaysian Resources Corp (MRCB). MRCB executive director, Datuk Ahmad Zaki Zahid, said the company has solved all the land issues and the project could proceed as usual. "The first phase of the project is expected to be completed before 2013," he told a media briefing yesterday. The hub, a component project of the Northern Corridor Economic Region, would be undertaken by a joint-venture between MRCB and Pelaburan Hartanah Bumiputra . Ahmad Zaki said the actual cost of the project was expected to increase to RM2.7bn. (Bernama)

Jala: PM to announce new projects next week
Prime Minister Datuk Seri Najib Tun Razak is expected to announce on Tuesday new development projects as well as several entry point projects that will boost the oil, gas and energy sector. The PM will announce some of the confirmed projects and provide updates on previous projects announced, Minister in the Prime Minister's Department, Senator Datuk Seri Idris Jala, said at the 29th Majeca-Jameca joint conference yesterday. Jala, who had presented a paper on the Economic Transformation Programme (ETP) earlier, was speaking to reporters on its updates and 2011 focus. (StarBiz)

Study on bullet train ready by mid-2011
Malaysia will only approach Singapore on the bullet train project connecting the countries’ capital cities once its feasibility study is completed by mid-2011, Minister in the Prime Minister’s Department Senator Datuk Seri Idris Jala said. The study is due to start in January and the results will be discussed in the Cabinet. Idris said the project’s planning follows the timeline of the Economic Transformation Programme (ETP) announced by the government last month. “Nothing has been confirmed yet … we need to take a hard look at the network and speed (aspects) and review the proposals (by companies),” he said on the sidelines of the joint conference of the Malaysian and Japanese economic associations in Kuala Lumpur yesterday. (BT) 

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