Tuesday, June 12, 2012

20120612 1016 Malaysia Corporate Related News.

Ananda Krishnan hires CIMB to advise on pay-TV IPO
Malaysian tycoon Ananda Krishnan has mandated CIMB Investment Bank to advise him on the initial public offering of Astro All Asia Networks Plc in a deal expected to raise around USD1bn in the fourth quarter, a source with direct knowledge of the deal said. The IPO plan by Ananda, Malaysia's second richest man, comes on the heels of a USD2.8bn sale of his power assets and proposal to hive off a stake in his satellite operator MEASAT Global in March. The IPO could well become the third largest in Malaysia this year after palm oil giant Felda Global Ventures Holdings' USD3.4bn deal and IHH Healthcare's USD2bn planned flotation. (StarBiz)

Gas Malaysia ends first day at RM2.42
Gas Malaysia Bhd ended its first trading day on Monday at RM2.42, which was a premium of 22 sen above its offer price of RM2.20. The counter was very actively traded, with 87.13m shares done. However, Gas Malaysia was off its day's best when it reached an intra-day high of RM2.52. Under Gas Malaysia's initial public offering, 25.68m shares were offered to the public, which was oversubscribed by 21.64 times. The institutional offering of 303.31m shares was offered to institutions at RM2.20 per share. (StarBiz)

Yinson wins RM2.33bn oil contract in Vietnam
Oil and gas services provider Yinson Holdings has bagged a USD737.3m (RM2.33bn) contract in Vietnam, its second big job overseas in less than two years. Yinson said yesterday the company and its Vietnam partner, PetroVietnam Technical Services Corp (PTSC), had won the contract from Lam Son Oil Management, Exploration and Exploitation Joint Stock Company. Lam Son is a joint venture between Vietnam‟s state oil firm PetroVietnam and Malaysia‟s Petroliam Nasional Bhd. Yinson and PTSC will provide floating production, storage and off-loading (FPSO) facility to Lam Son. The contract entails a 10-year charter of the FPSO facilities. (BT)

MAS, JAL code-share arrangement starts 1 July
Malaysia Airlines (MAS) and Japan Airlines (JAL) will start a code-share cooperation from 1 July 2012 covering up to 347 weekly flights of 51 sectors, including the Malaysia-Japan trunk routes. In a statement yesterday, MAS said the cooperation would also include selected domestic and international flights operated by both airlines. Sales for this code-share will commence today. MAS group executive chief officer Ahmad Jauhari Yahya said the agreement would give the airline an excellent opportunity to expand its reach without having to mount its own flights to cities in Japan and beyond in North Asia and the US. (Malaysian Reserve)

Handal wins RM120 crane job
Handal Resources has been awarded a RM120m contract from Petronas Carigali SB to provide integrated crane services. The duration of the contract is for five years commencing from June 2012, said Handal in an exchange filing. The contract is expected to contribute positively to the earnings of Handal for the financial year ending 31 Dec 2012, said the company. (Malaysian Reserve)

Hubline to raise RM75m from proposed rights
Shipping company Hubline expects to raise RM75.63m from its proposed renounceable rights issue, to be completed in the second-half of the year. The company has proposed a two-call rights issue of 1.08bn rights shares on the basis of one rights share for every two existing Hubline shares held, together with 432.2m free detachable new warrants, on the basis of two additional warrants for every five rights shares subscribed at an entitlement date to be determined later. The indicative price is 20 sen per rights share. (Malaysian Reserve)

RRI land deal to be sealed soon
The Employees Provident Fund Board (EPF) is set to complete the acquisition of the Rubber Research Institute of Malaysia (RRI) land in Selangor from the federal government by month's end for over RM2bn, a property executive close to the deal said. "The land, about 2,200 acres [890ha] of which are available for development, is to be bought as agricultural land for over RM2bn," said an executive who asked not to be identified. Under the proposed plan, the federal government will be entitled to a further share of the profit should certain tracts of the land be tendered out are sold for higher than expected prices, the executive said. "Announcements in relation to RRI should come by end of this month", he said. (Financial Daily)

UEML-Khazanah JV for RM5bn project
UEM Land Holdings (UEML) is taking a 51% stake in a proposed high-end residential resort development in Desaru, Johor, with an estimated gross development value (GDV) of RM5.4bn. The project is in collaboration with Khazanah Nasional's subsidiary, Desaru Development Corp SB (DDC), which will own 49% of the JV. UEM Land said in a statement yesterday the land for the proposed 20-year development - 25 parcels totaling 678.7 acres - will be acquired from DDC for a total of RM485.3m. Khazanah, through DDC, is spearheading the development of Desaru as an international tourist destination. The completion of the 27km Senai-Desaru Expressway in June 2011, is expected to be a catalyst for the area's development. (Financial Daily)

Daibochi Plastic eyes regional market
Daibochi Plastic and Packaging Industry Bhd is positive on tapping into the growing prospects of the regional flexible packaging market. “We are optimistic on the tremendous potential in the regional food and beverage (F&B) market as multinational manufacturers increasingly source their flexible packaging requirements from Asia,” managing director Thomas Lim said in a statement. (Source: The Star)

Elements model for Pudu project?
UDA Holdings may redevelop Pudu Jail into an integrated transport hub, a la Elements of Hong Kong, to attract domestic and foreign direct investments. The plan could generate more than RM8 billion in gross development value, said UDA chairman Datuk Nur Jazlan Mohamed. (Source: Business Times)

MAHB eyes foreign projects
Malaysia Airports Holdings Bhd (MAHB) is looking to bid for new airport projects in Indonesia, China, and the Philippines, its managing director said. "We are in initial discussion with them ... (to bid for) maybe one airport in each country," its MD Tan Sri Bashir Ahmad said on the sidelines of an International Air Transport Association (IATA) airline conference. (Source: Business Times)

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