Tuesday, December 4, 2012

20121204 1132 Malaysia Corporate Related News.

UEM Land inks RM4bn Nusajaya deals
UEM Land Holdings, the property development arm of UEM Group, has inked deals worth about RM4bn with six companies to develop Phase 2 of Nusajaya in Johor. It is understood that UEM Land signed agreements with the companies from Malaysia, Singapore, South Korea and China for various projects over the past week. (BT)

Eversendai raises stake in Technics
Eversendai Corp, a structural steel turnkey and power-plant contractor, has raised its stake in Singapore-listed Technics Oil & Gas to 13.6%, in a bid to strengthen its position in the oil and gas (O&G) sector. Just last Friday, Eversendai said it bought 11.2% stake in Technics for RM62.1m using its initial public offering proceeds. (BT)

Naim on track to meet RM300m property sales target
Naim Holdings Bhd is on track to meet its target of RM300mil in property sales this year. Corporate marketing/investor relations senior director Ricky Kho said robust demand particularly in residential homes had helped the group's sales to hit RM287mil year to date. Last year Naim sold 660 property units valued at RM218.8mil and, in the first 11 months of this year, it achieved sales of 620 units of higher value properties in Miri, Kuching and Samarahan. (Star)

AMMB completes MBF Cards purchase
AMMB Holdings has completed the acquisition of MBF Cards for RM623.4m from MBF Holdings, according to a media release yesterday by AMMB. AmBank Group chairman and shareholder Tan Sri Azman Hashim said that the acquisition will enhance the group’s profile of its merchant acquiring and card issuance businesses with a greatly enlarged merchant network. With more than 45,000 merchants-in-force, the deal will make AMMB the top three merchant acquirer in Malaysia. (Malaysian Reserve)

Genting Plantation working with DuPont to increase oil palm yield
Genting Plantation, via its unit ACGT, is collaborating with DuPont, a global innovation and science company, to increase oil palm yield and unlock the natural potentials of the crop. ACGT chief executive officer Derrik Khoo Sin Huat said the collaboration would leverage on DuPont’s suite of scientific crop yield innovations and enable the company to introduce market-assisted selection to identify high-performance oil palm breeds.  (Malaysian Reserve)

Good rating for Media Prima’s notes
RAM Rating Services has assigned Media Prima’s proposed RM500m commercial paper’s/medium-term notes a preliminary long-term rating of AA2 and a short-term rating of P1 with a stable outlook. Reflecting on Media Prima’s strong market position in the media industry and its solid financial profile, the rating agency’s P1 rating of the company’s RM180m commercial papers programme (2007/2014) has been re-affirmed.  (Malaysian Reserve)

Bintai Kinden unit secures job worth RM133.2m in Sabah
Bintai Kinden Corporation’s unit has secured a contract worth RM133.2m to perform mechanical and electrical (M&E) works for a mixed development project in Kota Kinabalu, Sabah. In a Bursa filing yesterday, Bintai Kinden said its unit Kejuruteraan Bintai Kindenko has received the letter of award for the project from Pacific Sanctuary Holdings, appointing it as the main contractor for the M&E works. (Financial Daily)

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