Pos: Khazanah board to meet this week on Pos. Khazanah Nasional Bhd's nine-member board is scheduled to meet this week to finalise bids made for Pos Malaysia. (Source: Business Times)
Iskandar: Two probes into Iskandar Investment last year. There were two separate probes done within Iskandar Investment Bhd (IIB) last year following complaints of how contracts were awarded. The investigations found cases of mismanagement, criminal breach of trust, procedures that were not followed and leaks of confidential information. (Source: Business Times)
Banking: Market to dictate number of banks. The market will determine the number of banks in the country, which are currently well-capitalised. Bank Negara Governor Tan Sri Dr Zeti Akhtar Aziz said banks have reached a "minimum size and are well-capitalised with quality capital that has enabled them to take advantage of economies of scale". (Source: The Star)
RHB Capital delays cash call
RHB Capital Bhd (RHB Cap) is seeking a further extension of six months until Oct 19 to complete a proposed rights issue that would raise some RM1.3bn cash via the issuance of new shares. The proceeds from the cash call, which was proposed in October 2009, were to finance RHB Cap’s proposed acquisition of up to 89% equity interest in Indonesia-based PT Bank Mestika Dharma for about RM1.3bn. (Financial Daily)
Telekom Malaysia to sell RM2bn worth of sukuk
Telekom Malaysia Bhd, the country’s biggest fixed-line telephone operator, will issue up to RM 2bn worth of shariah-compliant debt papers to fund its expansion. The Securities Commision has approved Telekom’s proposed sukuk issuance, comprising of seven-year Islamic commercial papers as well as a 15-year medium term notes programme, according to a filing by Telekom to the stock exchange yesterday. (Malaysian Reserve)
Masterskill invests in Indonesian Hospital IPO
Masterskill Education Group has entered into an agreement with PT Surya Cipta Inti Cemerlang (PTSCIC) to subscribe for shares in a soon to be listed healthcare provider in Indonesia for USD1m (RM3.03m). In an announcement to Bursa Malaysia yesterday, the company said it would subscribe to shares in PT Sejahteraraya Anugrajaya (PTSA) at an issue price of 120 Rupiah (42 sen) per share, in conjunction with the latter’s IPO exercise on the Indonesian Stock Exchange. (Financial Daily)
Press Metal plans expansion
Press Metal announced yesterday that phase-2 expansion of its aluminium smelting operation would be located at the new Samalaju Industrial Park Bintulu, Sarawak. Press Metal would undertake the second phase of expansion via its wholly-owned subsidiary. The expansion project which was aimed at meeting the growing demand of aluminium in Asia, would be financed through internally generated funds and bank borrowings. (Starbiz)
Maxis aims to raise non-voice revenue
Maxis aims to raise its non-voice revenue to 50% by next year, from the current 41.5%, boosted by the production of the Maxis integrated partner in education (Mipe) programme, launched yesterday. Vice-president and head of products, devices and innovation T. Kugan said the educational programme, provided to selected higher learning institutions, would encourage students and administrative staff to use more data services for their academic works.“This will contribute to the overall usage of data and definitely be a significant contributor to revenue in the future for Maxis,” he told reporters after the launching of the Mipe programme here yesterday. (StarBiz)
Dominant to increase wood output
Johor based Dominant Enterprise Bhd plans to enhance laminated wood production to cope with rising global demand for knock-down furniture. The group is currently installing its third production line of laminated wood in Muar to increase total capacity by 23% to 210,000 cu m, from 40,000 cu m, at present.(StarBiz)
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