Monday, November 5, 2012

20121105 0959 Malaysia Corporate Related News.

Massive Equity: Offer for KFC and QSR fair
Massive Equity SB, the special purpose vehicle set up to take over KFC Holdings (M) and QSR Brands, has maintained its view that its proposed offer price is fair and reasonable. The statement came after a foreign news wire reported that the company, which is owned by Johor Corp, the Employees Provident Fund and CVC Capital Partners, may face some opposition from minority shareholders over its proposed takeover offer in the upcoming EGM, scheduled for today and tomorrow. (BT)

Iskandar Malaysia enters the fast lane
The chief of Iskandar Investment (IIB) is bullish on the outlook for Iskandar Malaysia in Johor, attributing his optimism to various projects like the high-speed rail (HSR) plan and the transformation of Desaru. "Hopefully, it (HSR) can come earlier. Iskandar Malaysia will benefit from the MRT link between JB Sentral and Woodlands in Singapore," said IIB president and chief executive officer Datuk Syed Mohamed Syed Ibrahim. Khazanah Nasional recently said plans are underway to transform Desaru, starting with Phase 1 that carries a gross development value of RM5bn. The transformation will be carried out in three phases over 15 to 20 years. (BT)

AirAsia X IPO to sell 33.3% of shares
AirAsia X, the medium haul budget carrier of AirAsia, is offering for sale 790.1m shares, or 33.3% of the company, in an initial public offering (IPO). The IPO will comprise 592.6m new shares and 197.5m existing shares, with the new shares representing 75% of the IPO proceeds while the remainder of the proceeds will go to its promoters. Based on Reuters report, the total IPO of 790.1m shares could be worth 97 sen per share. However, AirAsia X has given no information on pricing, size of the listing or a timeframe for the IPO. (StarBizweek)

KLIA2 expects 20m passengers in first year
20m passengers are expected at the new low-cost carrier terminal (KLIA2) in its first year of operation, said Malaysia Airports Holdings general manager of construction Mohd Zaifuddin Idris. He said another two low-cost airlines, in addition to the 10 budget carriers presently operating from the LCCT (low cost carrier terminal), were expected to operate from KLIA2, once it officially opens on 1 May 2013. The two airlines are Firefly and Malindo Air. Mohd Zaifuddin said Firefly had asked for space at KLIA2. He said the RM4bn KLIA2 was 70% complete, adding that the completion of its RM150m skybridge was a major milestone. (StarBizWeek)

U Mobile scales new heights with 3G network expansion
U Mobile SB is expanding its network across Peninsular Malaysia and will now offer 3G coverage and high- speed Internet services in every state. This followed the activation of its 3G Radio Access Networks (RAN) sharing with Maxis, a statement from the telecommunication company said last Friday. The 3G network expansion through the 3G RAN sharing represented a major milestone for the local telecommunications industry and was the first such initiative in Asia, it said. This not only reinforces U Mobile's commitment to expand its network coverage but positions U Mobile amongst the top three 3G telcos in Malaysia. (StarBizweek)

WCT agrees deal with Medini
WCT Acres SB, a unit of WCT Bhd, has entered into a 99-year lease purchase agreement with Medini Land SB, a subsidiary of Iskandar Investment (IIB), for an 18.1-acre land for RM99.5m. The land, situated in Medini North in Johor, will be used for a proposed mixed commercial development with an estimated gross development value of approximately RM1.5bn. The development which comprises offices, retail spaces and apartments will be carried out over the next five years. WCT managing director Taing Kim Hwa said works for the land would commence after the completion of the deal and expected it to be in another six to 12 months. (StarBizweek)

UEM Land plans Auto City in Nusajaya
UEM Land Holdings is working on plans to build a "Auto City", a dedicated zone for motoring enthusiasts, in Nusajaya. Chairman Tan Sri Dr Ahmad Tajuddin Mohamed Ali said on Friday the city would be developed on a 32ha site near Gerbang Nusajaya. "We've many development projects to be implemented in Nusajaya. There will be, hopefully before not too long, something we call Auto City related to auto enthusiasts," he said. Ahmad Tajuddin also said UEM Land has plans to build a uniqe shopping complex in Nusajaya and other development projects. (StarBizWeek)

Datasonic signs MoU with SCPP to implement smartcard projects
Datasonic Group, an information, communication and technology (ICT) services provider, signed a memorandum of understanding (MoU) with Sudan Currency Printing Press Co Ltd (SCPP) to jointly work on smartcard projects in Sudan. The MoU, signed between Datasonic Technologies SB, involves joint cooperation and implementation of electronic national identity card, e-passport and land transportation ICT and smartcard systems there, said Datasonic. The MoU will take effect from 1 Nov 2012 for 12 months. (Malaysian Reserve)

Sime sells JV unit to Sirim for RM10m
Sime Darby's wholly-owned subsidiary Sime Darby Energy SB is selling its entire equity interest in the joint-venture (JV) company Sime-Sirim Technologies SB to Sirim for RM9.9m. Sime did not rationalize the proposed disposal other than saying it is expected to be completed by 2 Jan 2013. Sime-Sirim Technologies is principally involved in the business of establishing and operating commercial laboratories providing calibration, measurement and other related services. (Malaysian Reserve)

Lin to stay another term in Gamuda?
Gamuda group managing director Datuk Lin Yun Ling's decision to raise his stake in the construction firm was meant to send a clear signal to the market of his commitment to the group, which he has served for the last 34 years. Executives close to Gamuda said Lin in fact plans to accept a renewal of his employment contract for another term, if offered. Lin sees potential, particularly in Gamuda's property development and construction operations. Citing examples, the executive said Gamuda's annual new property sales stood at RM600m five years ago but has now increased to RM1.5bn. (Financial Daily)

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