Supermax: ADR to broaden foreign interest in its share. Supermax Corporation Bhd has obtained approval from the US Securities and Exchange Commission for its Sponsored Level-1 American Depositary Receipt (ADR) programme which facilitates the trading of Supermax's shares by American investors. The Bank of New York Mellon would be the depository bank whilst Malayan Banking Berhad (Maybank) serves as the custodian of Supermax's shares in Malaysia. (Source: The Edge Financial Daily)
UEM Land, Sunrise: Takeover becomes unconditional, deadline extended. UEM Land's conditional take-over offer for Sunrise became unconditional after the acceptance has crossed the 50% threshold yesterday. The closing date and time for acceptance of the takeover has been extended to 5p.m. on Jan 7, 2011. (Source: The Edge Financial Daily)
MAS: Revamps fleet, adds capacity to India. Malaysia Airlines (MAS) plans to revamp its fleet and scale up operations to achieve 30 to 40% passenger growth in the Indian sector next year. MAS will switch from the B777, used at present, to the A380 aircraft to India by 2012. The carrier would also revamp its frequency to its regular destinations and allocate additional 40% capacity in India. (Source: Business Times)
RHB Capital: RHB Bank to hold Bank Mestika stake. Having consulted the relevant authorities, RHB Capital will now park its Bank Mestika stake under RHB Bank, from RHB Venture Capital previously. (Source: The Star)
Infrastructure: Plans for bridge between Malacca, Dumai. Malacca state government is seeking approval for the longest sea-crossing bridge connecting Malacca with Dumai in Sumatra from the federal government, while the Governor of Riau, Rusli Zainal, will attempt to secure Jakarta's approval. The proposed 127.9km highway costs USD12.8b (RM40.1b) and will be privately funded. Construction is expected to be completed in 10 years. The bridge will be built by Straits of Malacca Partners Sdn Bhd, with financial support guaranteed by China Exim Bank and other financial institutions. (Source: New Straits Times)
RM26bn bid for PLUS
Little-known Jelas Ulung SB has made a late RM26bn offer to buy PLUS Expressways, just three days before the highway group's shareholders were due to vote on an existing bid. The offer by Jelas Ulung, rumored to be backed by Tan Sri Halim Saad, trumps a RM23bn joint bid by UEM Group and the EPF. Jelas Ulung director Tan Sri Ibrahim Mohd Zain, a former banker, declined to say who the shareholders of the company are. (BT)
MTD Capital gets RM1.1bn buyout offer
Datuk Nik Hussain Abdul Rahman, the group executive chairman of MTD Capital and parties aligned to him, are launching a RM1.1bn buyout offer for the country's second largest toll road operator. The offer values MTD at about RM2.6bn, or equivalent to RM9.50 a share. The company's shares were last traded last week at RM8.90, giving the company a market capitalization of RM2.4bn. (BT)
Iskandar Malaysia records RM64.4bn in investments
The total value of investments recorded by Iskandar Malaysia from the start of the development corridor project in 2006 until September 2010 was RM64.4bn. The amount far exceeded the RM47bn target set for this year, Iskandar Regional Development Authority CEO Ismail Ibrahim said. "We have annual targets. We started collecting information about investments in 2006. The final target we have set upon maturity in 2025 is RM382bn," he added. (StarBiz)
Bina Puri clinches RM157m infrastructure, housing job in Brunei
Bina Puri has secured an infrastructure and housing job in Brunei worth RM157m. the new project will push its order book for new projects to RM2.6bn, with its outstanding order book at RM3.3bn. (Financial Daily)
KPJ to open 4 new medical centers
KPJ Healthcare is on target to open four new medical centers by 2012 to add to its stable of 20 hospitals. It is expected to spend nearly RM500m on the hospitals in Bandar Baru Klang in Selangor, Pasir Gudang and Muar in Johor, and Sabah Medical Centre in Kota Kinabalu. Its MD Datin Paduka Siti Sa'diah Sheikh Bakir, said it had other hospitals in the pipeline but they would be built later. (BT)
Astro, TDC in fibre optic tie-up
Astro TV has found a channel to deliver its high-definition B.yond, Internet protocol television (IPTV) and videoon- demand (VOD) offerings to consumers in the Klang Valley and Penang with the signing of an agreement yesterday to lease fibre optic on Time dotCom network. It will use the latter's high-speed fibre optic network to deliver its entertainment and interactive content to users. Astro's IPTV/VOD offering is available to 11,400 homes as at yesterday and by end-2011, it will be extended to over 167,000 homes, covering 1,500 buildings. (StarBiz)
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