20110331 0937 Malaysia Corporate Related News.

 KLCI chart reading :
upside biased, immediate resistance near 1545 level.

Tan Chong: To upsize MTN programme to RM2b. Tan Chong Motor Holdings Bhd has received approval from the Securities Commission to upsize its asset-backed medium term notes (MTN) programme to RM2b from RM600m. The approval would enhance the group's ability to tap the capital markets for future funding needs. (Source: The Star)

AirAsia: Unit awaits nod for Jeddah. AirAsia X, is in the final stages of getting the green light from the Government to fly to Jeddah, Saudi Arabia. (Source: The Star)

CIMB: Raises BLR/BFR rates. CIMB Bank Bhd and CIMB Islamic Bank Bhd have announced an increase in their base lending rate (BLR) and base financing rate (BFR) by five basis points from 6.3% to 6.35%, effective from April 4. The change in the rates followed Bank Negara's decision to increase the statutory reserve ratio requirement by 1% to 2% with effect from tomorrow. (Source: The Star)

JCY: Eyes major client from Japan. JCY International Bhd is in the midst of courting one of the world's leading electrical and electronic (E&E) companies from Japan as its new client. (Source: The Star)

Property: Putra Place finally sold for RM514m. The Putra Place in Kuala Lumpur has finally been sold to OSK Trustee Bhd for RM514m, some three years after the property was first put up for auction. OSK Trustee may have bought the property on behalf of one of the real estate investment trusts (REIT). (Source: Business Times)

Ireka unit bags RM233m job
Ireka's wholly-owned Ireka Engineering & Construction has been awarded a RM233m contract by Transmission Technology SB. The contract was for a package of works for the proposed offices and hotel development on part of Lot 203, Seksyen 72 (Lot G) in Kuala Lumpur. (Bernama)

Integrated Logistics to spend RM200m on expansion
Integrated Logistics is expected to spend RM200m over the next three years to expand its business in China and Dubai. The amount was for the expansion of warehouse spaces to 4m sq ft from 1.8m sq ft currently. (Bernama)

Cypark proposes to take over 32 landfills
Cypark Resources has submitted proposals to the Government to take over as many as 32 non-sanitary landfills and to design, build and manage integrated waste disposal sites. "We submitted the proposals sometime late last year, and we expect to know the outcome for the landfills in the current financial year," Cypark group CEO Daud Ahmad said. (BT)

JCY eyes major client from Japan
JCY International is in the midst of courting one of the world’s leading E&E companies from Japan as its new client. “We can’t disclose the name of the new client due to the sensitivity of our business operations,” its executive director James Wong King Kheng said. (StarBiz)

Columbia Asia courts EPF
Regional hospital chain Columbia Asia Group is currently in talks for the EPF to take up a stake in the former’s Vietnam operations. EPF is already a strategic investor, holding a 30% stake in Columbia Asia SB which owns Columbia Asia Group’s hospitals in Malaysia and Indonesia. The remaining 70% is held by US-based fund International Columbia USA. Columbia Asia Group had been in discussions with EPF to enter the former’s Vietnam business but details of the deal have yet to be finalised. (FinancialDaily)