HLB: May sell MIMB Investment Bank licence. Hong Leong Bank Bhd (HLB) may sell MIMB Investment Bank Bhd's investment licence which it got following the acquisition of EON Capital's assets and liabilities. HLB has a choice of selling it to Hong Leong Investment Bank or other suitors who might be interested. (Source: The Star)
MPHB: MCA in talks to buy Menara Multi-Purpose. The Malaysian Chinese Association (MCA) is said to be keen on buying Multi-Purpose Holdings Bhd's (MPHB) Menara Multi-Purpose, located near Dang Wangi in Kuala Lumpur. The price tag could in the range of RM350m to RM400m. (Source: The Edge Financial Weekly)
EON Capital's 145 bank branches in Malaysia have been redesignated as Hong Leong Bank branches as of yesterday, allowing customers from both banks to conduct transactions at any of their combined 329 branches. The two, which were legally merged some three months ago in a RM5.06 billion deal, together now have the second largest bank branch network in the country after Malayan Banking, which has some 386 branches.
- The merged group will also have over 1,400 self-service terminals, including ATMs and cash deposit machines. "As of today, we are effectively one bank to our customers," group MD Yvonne Chia said. To facilitate a smooth transition, all payment and transaction instruments issued by the former EON Bank - including debit, ATM, credit cards, cheques and bank drafts - will remain valid until June 30 next year, or until further notification.
- Hong Leong, which leapfrogged to become the country's fourth largest banking group by assets after the merger, from sixth largest, has no plans to cut down on its 329 branches as "branch banking" is seen as a key way to boost its business, Chia said, adding, however, that some may be relocated.
- On another matter, she said Hong Leong may sell its additional investment banking licence which it obtained from EONCap's MIMB Investment Bank. (BT)
SP Setia has bought over 409ha of freehold land in Beranang, Ulu Langat, in Selangor for over RM330.1m cash or RM7.50 per sq ft from Ban Guan Hin Realty Sdn Bhd. SP Setia said it intends to develop a mixed residential township development project on the land with an estimated GDV of RM3.5bn.
- "The proposed acquisition offers SP Setia a good opportunity to tap into strong demand for attractively priced homes by first time owners and other home buyers in the Semenyih-Kajang corridor," it said.
- It also allows the group to further reinforce and expand its core business by replicating its proven township development model in an emerging growth corridor that is not presently served by its more matured projects in the Klang Valley.
- The land deal is expected to be completed during the first half of financial year ending October 2012. The terrain of the land is generally undulating and is zoned for mixed housing development, and is situated midway between the towns of Semenyih, Bangi Old Town and Beranang. (NST)
Maybank aims to capture a larger share of the electronic dividend payments market, from 30% currently to 70% by 2013, with an expected transaction value of about RM10bn. This will be helped by its new and improved eDividend system, Maybank deputy president Abdul Farid Alias said.
- Maybank has tied up with the Inland Revenue Board (IRB) to automate the taxation process of dividends. This eliminates the need for hardcopy tax vouchers.
- Maybank, which leads the electronic payments market, currently has a client base of 20,000 customers and a 26% market share in corporate deposits. Its Maybank2e.net system processed more than 80m transactions valued at about RM800m last year, and has been growing at an average of 30% yearly. (BT)
AirAsia has lambasted airport operator Malaysia Airports (MAHB) for reneging on a deal to freeze passengers service charges or airport tax for the low-cost carrier terminal (LCCT). According to Tan Sri Tony Fernandes and Datuk Kamarudin Meranun, the government had assured the low-cost carrier that there would be no hike in airport tax for the LCCT. This assurance was given more than a year ago prior to the ground-breaking ceremony of the new LCCT at KLIA 2. "We were told that the charges (for the new LCCT) will not be any different from the current one, and (should there be cost overruns) that it would not be passed on," Kamarudin said. "We will fight it tooth and nail. We are paying for MAHB's inefficiencies, which is what I've always said is the problem," Fernandes said. (BT)
Malaysia Airports (MAHB) is looking at a possible 30% hike in landing and a 64% increase in parking charges, says an airline source. MAHB is still holding discussions with airlines on whether the increase should be done on a staggered basis or at one go. In a dialogue with foreign airlines, MAHB said it had received the go ahead to raise airport tax for passengers as well as parking and landing charges for airlines. (BT)
Malaysia Airports (MAHB) has identified some 183 acres of land to acquire, situated within the surrounding area of the Sultan Abdul Aziz Shah Airport in Subang. The move is an effort to further expand the Malaysia International Aerospace Centre (MIAC). The proposed land acquisition exercise, at a cost to be determined later, is to address the land scarcity issue faced by MIAC as a result of the overwhelming response from investors to set up operations there. The land could cost RM400m if it is not converted and is freehold. But if it is industrial land, the value could cost from RM800m to RM1.2bn for the whole 183 acres, according to a rough estimate by a property valuer. (Malaysian Reserve)
Proton Holdings is open to any form of strategic partnership for the benefit of the Malaysian automotive industry, said Group Managing Director Datuk Seri Syed Zainal Abidin Syed Mohamed Tahir. “What is important, is not for Proton but for the industry, which is very strategic and considered one of the most important components in the manufacturing sector. We are already cooperating in our operations like vendor development and joint-sourcing of raw materials. But to undertake something like Malaysia Airline, it is really up to the government,” he said when asked if Proton and Perodua were looking to collaborate. (Bernama, BT)
The Malaysian Communications and Multimedia Commission will be more aggressive in promoting broadband usage in an effort to achieve the target of 50% broadband penetration in Sabah by year-end, said its chairman Tan Sri Khalid Ramli. Penetration rate is 32% currently in Sabah. (Bernama)
Pengurusan Aset Air Bhd has embarked on the restructuring of the RM6bn Selangor water bonds and is expected to announce Maybank Investment Bank and CIMB Investment Bank as advisors. (Star Biz)
Petroliam Nasional Berhad (Petronas) needs to give bigger opportunity to local companies to work together and make the Sabah Oil and Gas Terminal (SOGT) project, said Deputy Chief Minister Datuk Yahya Hussin. He said it was only apt for Petronas to consider giving business opportunity, especially contracts and supplies, to companies and entrepreneurs from Sabah because they too can do it well. "Apart from various opportunities for business and contracts, qualified locals should also be given opportunity and priority to work in the SOGT," he said. (Bernama)
Competition from foreign funds and local real estate investment trusts (REIT) to acquire quality malls in Malaysia are driving up prices of retail assets here. “There is a strong appetite for our shopping malls and most of them want to buy properties which are not less than US$60m (RM180m),” CB Richard Ellis (CBRE) Malaysia managing director Allan Soo said. “There is a lot of money coming into Asia, particularly Southeast Asia,” he said, adding that if previously funds were eyeing Singapore, China and even Vietnam, now their focus is on Malaysia. “Retail property in Malaysia gives a yield of between 6-7%. As opposed to Singapore where it is about 3.55% and Hong Kong where it is about 3.75%,” he said. (BT)
Pelikan International Corp saw 20m of its shares crossed in an off-market deal at 75.8 sen apiece. Stock market data on Friday, Aug 12 showed the shares were crossed at 75.8 sen, which was 17.1% or 15.7 sen below the last traded price of 91 sen. (Financial daily)
Urban regeneration projects in Malaysia may be given a new breath of life with the RM9bn Tamansari Riverside Garden City development in Kuala Lumpur starting soon. “We believe Tamansari will stir interest among developers to start a new chapter in real estate development,” Tamansari developer Asie Sdn Bhd founder Datuk Khalil Asahah said. Asie expects to award two more contracts by year-end to build properties worth more than RM1bn. (BT)
Malaysian Oxygen Bhd, a member of The Linde Group (MOX-Linde), says it has acquired the remaining 51% shares in Eastern Oxygen Industries Sdn Bhd (EOX). The shares were bought from BNDM Incorporated Holdings Sdn Bhd, increasing MOX’s ownership in EOX from 49% to 100%. “MOX-Linde has moved to increase our holding in EOX to 100% as we are very confident about the growth prospects in East Malaysia, and wish to fully participate in the many opportunities we see here by taking strategic steps to strengthen our supply and service infrastructure there, including Labuan,” MOX managing director Wong Siew Yap said in a statement. (BT)
MISC may put in a bid for a fleet of eight liquefied natural gas (LNG) ships owned by shipping giant AP Moller Maersk, international shipping publications speculated last week. The bids are understood to be due by end-August, with initial estimates valuing the fleet at US$1.3bn (RM3.9bn) to US$1.7bn. According to shipping publication Tradewinds, MISC has roped in Japanese giant Mitsui & Co for a possible joint bid. (Financial Daily)
Naim Holdings is pursuing projects worth more than RM1bn, according to senior director Ricky Kho. The projects Naim is bidding for include the construction of a road near Balingan, the new Mukah Airport as well as a 200-unit residential project at Samalaju. (Financial Daily)
Benalec Holdings Bhd Company looking to secure contracts in Johor, Malaca and Penang
Benalec Holdings Bhd is looking forward to secure more maritime industrial park projects in Johor, Malacca and Penang. Group managing director Vincent Leaw Seng Hai said the company was currently involved in a maritime industrial park in Port Klang that would see the development of 200 acres. He said that usually the success rate of their bid projects is quite high because Benalec seldom competes in open tenders; it usually goes for direct negotiations or invited tenders. Leaw also said that Benalec is currently working on several reclamation projects like Sentosa Cove and Arab City in Malacca, Glenmarie Cove in Port Klang and dredging for the Kapar power station, adding that the projects that they now have in hand is valued at more than RM800mil. Leaw said Benalec’s target market was in Malaysia with the focus on four states, namely Malacca, Johor, penang and Selangor (Port Klang). Internationally, Leaw said Benalec had actually made inroads in Singapore, supplying sea sand via associate company there. – StarBiz
Evergreen to buy 3.5m shares in Jasa Wibawa
Evergreen Fibreboard plans to buy 3.5m ordinary shares of RM1 each for a total of RM37.84m in Jasa Wibawa SB (JW) from Teh Ho Ann, Muhd Faisal Mohd Ariff, Amin Maidu and Seman Buang. The purchase will be funded by internally generated funds and bank borrowings. JW has two of its principal activities of dealing in sawn logs and cultivation of rubber trees. (Malaysian Reserves)
P1 signs partnership agreement with 8 SBCs
Packet One Networks SB (P1) has signed an agreement with eight state-backed companies (SBC) to further boost its 4G service proposition in the country. Last Friday, P1 said the eight SBC companies all came under the umbrella of the Persatuan Penyelia Infrastruktur Telekomunikasi (PPIT). In the past, P1 has worked with individual states to secure telecommunication tower leases, but this agreement standardised its commitment to working with all states as well as boosting its 4G network rollout. (Malaysian Reserve)
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