Monday, November 26, 2012

20121126 1020 Malaysia Corporate Related News.

Malaysia Airports (MAHB) has entered the running for Stansted airport, as the owners of London's third hub attempt to stoke up competition in the RM4.92bn bidding process. Although there were four existing bidders for Stansted in the first round, Heathrow has been seeking a "stalking horse" suitor to revive the auction process. The original four are Manchester Airport Group (MAG), Industry Funds Management, Macquarie and HRL Morrison. MAG had emerged as the favoured bidder. Stansted Airport is the fourth busiest airport in the UK, and is considered a hub for a number of major European low-cost carriers.It is also the core hub for Ryanair, the Irish low-cost carrier, which flies to over 100 destinations from the airport. The sale is  expected to be concluded by 1Q13. (Sunday Telegraph, BT)

The first Tunnel Boring Machine (TBM) for MRT Sungai-Buloh Kajang project is now ready for delivery to Malaysia. The TBM, expected to be put to work in May-13, has passed the Factory Acceptance Test (FAT), conducted by engineers from MRT Corp and MMC-Gamuda JV. The TBM which took nine months to be put together, will be dismantled and prepared for shipping to Malaysia, MRT Corp Strategic Communications and PR Director Amir Mahmood Razak said. The machine will undertake tunneling  works from the Cochrane, Kampung Pandan area to Pasar Rakyat in KL. It is one of ten such machines worth RM450m to be used for boring a 9.5km underground tunnel between Jalan Semantan and Taman Maluri. (BT)

SILK Holdings is confident of retaining its double-digit growth in total traffic volume on the Kajang-Silk Highway next year with the areas being served continuing to mature. "Last year, total traffic volume rose by 14.3%  to  51.8m vehicles and we are positive of maintaining the double-digit growth next year," executive chairman Datuk Mohd Azlan said. He said the 37km highway will also see positive spill-over effect from the  MRT project as this will make Kajang more attractive. SILK Holdings is also expected to undertake a lane expansion programme in order to cater to the increase in traffic flow, Mohd Azlan said. (BT)

Detailed alignments of MRT 2 and MRT 3, which will unveiled by end-2013, is expected to stir interest in the construction and property sectors, especially in areas like Kepong, Selayang and the Matrade Centre, which will fall within the coverage of the two new lines. According to SPAD, MRT 2 will be developed in at least two phases, partitioned into the sourth-western and north-eastern sectors. MRT 3 is expected to serve Selayang and Sg.  Buloh and will also be built in stages. (Edge Weekly)

Malaysian Resources Corp Bhd (MRCB) says the  Penang Sentral project in Butterworth, estimated to be worth over RM3bn, will begin in 2013 after more than four years of delay.  Penang Sentral, an integrated mixed commercial development was expected to start in 2008 but works got delayed due to land acquisition matters. MRCB was awaiting federal government allocation to fund the public utility project. It was then reported that Phase 1, comprising the integrated transportation hub with a retail component, worth an estimated RM400m, would start in Dec-2010.  MRCB's property division head of marketing Zamry Ibrahim said construction will begin next year and there would be some changes to the plan, like the incorporation of more green elements in the buildings.(BT)

The rising valuation of  MRCB is complicating a proposed asset injection exercise that would pave the way for the Gapurna group to emerge as a substantial shareholder in MRCB. Sources say that unless Gapurna group ends up with a meaningful stake of at least 20%, it would not be keen on pursuing the deal. Nusa Gapurna has 60 acres of prime land in several locations in KL. The valuation of the landbank owned by Gapurna is said to be between RM900m and RM1bn. The crown jewel is the 40-acre site in Petaling Jaya that is being developed into a prime commercial transport hub. A property valuer say that based at a conservative rate of RM450 psf, the tract is already worth RM784m. (Edge Weekly)

SP Setia, part of the consortium for the redevelopment of the London Battersea Power Station project, targets to sell all 800 units of apartments in phase one within six months. President and CEO Tan Sri Liew Kee Sin said GDV for the first phase of the project is about RM5bn. Liew said sales would begin in Jan with a worldwide launch and roadshow starting with Malaysia, before going to Singapore, Hong Kong, Brunei, Jakarta, Dubai, Istanbul and the UK. "The show village and office will be ready by Apr next year with official ground breaking ceremony to be held by Jul. The underground tube construction should also start by next year," he said. (Bernama, Malay Mail)

Malakoff Corp Bhd is on track for a listing next year with its IPO possibly raising US$1bn. Malakoff CEO Zainal Abidin Jalil said, "The IPO will not be as big as IHH Healthcare Bhd and Felda Global Ventures Holdings, but it will be significant." (Sun Biz)

RHB Capital Bhd, which aims to conclude the deal to acquire PT Bank Mestika Dharma by June 2013, expects to make an announcement on the transaction details by the end of this month, said its group managing director Kellee Kam. "We believe we are in a stage close enough to make an announcement relatively soon. Within this month we will be able to speak about the transaction in greater detail," he said. Kam said RHB Capital is still keen and focused in completing the acquisition of PT Bank Mestika of Indonesia and right now, is in consultation with both vendor and regulator there on the deal. He said it is still waiting for approvals from the regulators. "We are very cognizant of the new shareholder policies in Indonesia. For us to expand, we have to be conscious about the rules and regulations of domestic economy and financial system, which we want to go. We will abide the rules and regulation that has been put forward. We have restructured and adjust the transaction within the industry framework," he said. (Sun)

Malayan Banking Bhd (Maybank) will decide over the next six months whether it wants to locally incorporate its Singapore retail banking operations, a move that may enable it to double the number of outlets there. "If we do incorporate, then we can increase the branch network to double. But you have to weigh the pros and cons of such a move ... it's being discussed at the Maybank exco level," said Lee Hong Khim, Maybank's head of global wholesale banking (GWB) in Singapore. (BT)

Genting Hong Kong Ltd is confident on its growth prospects as its cruise business and its casino project in Manila are moving on the right track. The company, in which  Genting Malaysia Bhd has a 18.4% stake, is also optimistic that the US economy could improve. The company plans to add a new ship every year. It expects to have 22 ships by 2016. On its casino project in Manila, the company is now moving into its second and third phase of expansion as a result of satisfactory performance by Resorts Word Manila. (BT)

KPJ Healthcare has proposed to purchase the entire equity holding of Vejthani Public Co for RM60.53m. Vejthani owns and operates a multi-speciality hospital in Bangkok. The proposed acquisition will increase KPJ's gearing by 6%. The deal is expected to be completed in 2Q13. (Malaysian Reserve)

Malaysia Airlines (MAS) commenced the twice daily A380 Kuala Lumpur-London-Kuala Lumpur services with the inaugural daytime flight departing KLIA for the UK capital at 10.45 am. This was made possible after it received the third and fourth A380 aircraft on November 19 and last Friday respectively. (Bernama)

I-Berhad will launch the first phase of the residential incubator project at its flagship development  i-City next month. CEO Eu Hong Chew said the first phase with a gross development value (GDV) of RM317m would involve 956 units in two 33 storey towers. Located on a 0.81ha plot on the western part of i-City, the development would be built on i-City success as a MSC Cybercentre. "When i-City obtained its MSC Cybercentre status in 2008, there were only eight MSC Cybercentres in the Klang Valley, compared to the 19 centres currently. In order to differentiate ourselves, i-City is developing the residential incubators" Eu said. He added that the residential incubator is the latest start-up trend in the Silicon Valley.  (BT)

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