Tuesday, September 27, 2011

20110927 1047 Malaysia Corporate Related News.

BRDB will sell prized assets via open tender
Bandar Raya Developments (BRDB) has ceased all negotiations to sell its prized assets to its major shareholder, Ambang Sehati SB, and is now opting instead to dispose of them via an open tender. Both BRDB and Ambang Sehati had mutually agreed to call off the latter’s offer to acquire BR Property Holdings SB, which owns Bangsar Shopping Centre, Menara BRDB, CapSquare Retail Centre and Permas Jusco Mall, for RM914m. However, Ambang Sehati will be invited to participate in the tender. (StarBiz)

AirAsia, MAS to unveil strategic areas of cooperation soon
AirAsia and MAS are deliberating on strategic areas of cooperation and will reveal the details soon, said AirAsia group CEO Tan Sri Tony Fernandes. Fernandes said AirAsia and MAS’ volume combined could translate into a mega maintenance, repair and overhaul (MRO) entity in the region. Both airlines’ pilot training schools could join hands to make Malaysia a leading regional aviation training hub. The cargo and logistics segment is deemed a strategic area in which MAS, which already has an established fleet of cargo planes, can leverage on AirAsia’s short-haul network, according to Fernandes. (Financial Daily)

Multipurpose sells building to MCA, expecting gain of RM200m
Multipurpose Holdings will dispose Menara Multipurpose to MCA for RM375m, from which it expects a gain of RM199.6m. The company has entered into a sale and purchase agreement with MCA to sell the building along with 414 carpark bays. The move forms part of Multipurpose’s asset rationalization exercise to dispose its non-core assets. Multipurpose acquired the building for RM272.1m between 1993 and 1996 and the car bays in Capital Square for RM17m in 2004. (Malaysian Reserve)

Aikbee Resources receives takeover offer
Logging and sawmilling company Aikbee Resources has received a notice of conditional takeover from a group of joint offerors, made up from its subsidiaries and shareholders, to take the company private in view of having greater control and flexibility in charting the strategic direction of the company. The offer is RM1 per share, representing a 16.3% premium to the stock’s last trading price of RM0.86 but is below the company’s net asset per share of RM1.49. Aikbee has not registered any profits since FY04. It has a market capitalization of RM43m. (Financial Daily)

No comments: