Axiata subsidiary Dialog buys Sri Lanka Suntel for up to USD34.9m
Axiata Group’s subsidiary Dialog Axiata PLC is buying Sri Lanka’s leading fixed telecommunications provider Suntel at an enterprise value of between USD33.9m (RM107.84m) and USD34.9m cash pending a due diligence. Axiata said yesterday the acquisition of Suntel by Dialog’s fixed line subsidiary Dialog Broadband Networks (Private) Limited (DBN), provides the Dialog Axiata Group with a much enhanced leverage and footprint in the fixed telecommunications market space in Sri Lanka. (Financial Daily)
UMW: No submission to buy Khazanah’s 42.7% Proton stake
UMW Holdings has confirmed that it had not submitted any bid to Khazanah Nasional to acquire its 42.7% stake in Proton Holdings. “UMW also confirms that it is not in any form of discussion with any parties in this regard,” it said. Besides, UMW’s associate WSP Holdings Ltd has received a takeover offer from HDS Investments LLC for 60 US cents per American Depositary share in cash. (Financial Daily)
Tenaga to rebalance fuel cost mix, focus more on coal, says Che Khalib
TNB is looking to rebalance its fuel cost mix of between coal and gas to 50:50 in 2016 from 40:60 now to reduce its dependency on gas, said its president and CEO Datuk Seri Che Khalib Mohamad Noh. "The coal-fired plant in Tanjung Bin, Johor will be expanded to provide an additional 1,000 MW to meet the higher demand," he told reporters. Che Khalib said TNB hoped to receive payment of up to RM2bn on the additional cost it incurs for burning pricey oil and distillates from the government and Petroliam Nasional as soon as possible. (Financial Daily)
Coastal Contracts orderbook hits RM690m with new RM233m deals
Coastal Contracts’s year-to-date order wins rose to RM690m after the company secured new contracts worth RM233m. It said yesterday that its units have secured contracts for the sale of three offshore support vessels, two landing crafts and two barges for a total of RM233m. (Financial Daily)
Dialog rights shares fixed at RM1.20, warrants exercise price RM2.40
Dialog Group, which is undertaking a cash call to raise funds for more investments in the upstream oil and gas opportunities, has fixed the rights shares at RM1.20 each and the exercise price of the warrants at RM2.40 each. Dialog’s cash call involved a renounceable rights issue of up to 398.73m new shares of 10 sen each together with up to 100.36m free detachable warrants. This would be on the basis of two rights shares with one warrant for every 10 shares held as at 9 Jan 2012. (Financial Daily)
Felda Global on track for April listing
Felda Global Ventures Holdings SB is on track to make its debut on Bursa Malaysia by early second quarter of next year, its president Datuk Sabri Ahmad said. “We are on track. We have the bankers looking into it already. Hopefully, we can list it in April next year,” Sabri told a press conference at Felda Biotech Centre at Bandar Enstek yesterday. While the actual size of the initial public offering (IPO) has yet to be announced, it is expected to be worth billions of ringgit, making Felda Global one of the country’s 25 most valuable companies. (BT)
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