Friday, December 7, 2012

20121207 0954 Malaysia Corporate Related News.

Karambunai to pay off RM812m debts
Karambunai has proposed a capital reconstruction by cancelling RM0.40 of its RM0.50 sen par value shares to pay off its total accumulated losses of RM812m. The corporate exercise also includes a fundraising via proposed renounceable rights issue of 507.5m new shares on the basis of one rights for every four existing shares, together with 1.02bn free detachable warrants on the basis of two warrants for every one rights subscribed. The price and entitlement date will be determined later, with the company intending to raise at least RM22.3m. (Malaysian Reserve)

Maxis to invest up to RM500m in 4G, rollout in 1Q2013
Maxis is expected to invest RM400m–RM500m over the next three years in long-term evolution (LTE) or 4G services, which it will roll out in Klang Valley in 1Q2013. Services will be extended to Penang, Johor Bahru, Sabah and Sarawak in four to six months after the Klang Valley launch. (StarBiz)

Scomi extends cut-off date for proposed bond issue
Scomi and IJM Corp have agreed to extend the cut-off date for the fulfillment of conditions precedent for the completion of a proposed RM110m convertible bond issue to 11 Feb 2013, from 24 Dec 2012. Among the conditions still required include approvals from the Securities Commission. The company will then likely call for an EGM to vote on the proposed issue to IJM. There are two factions in the company, one which is against the entry of IJM and the other which welcomes the company. (Financial Daily)

Gamuda bidding for several infrastructure projects next year
Gamuda is looking forward to participate in upcoming infrastructure projects including the Kuala Lumpur–Singapore high speed railway link and the MRT second line. The progress of the MRT South Buloh-Kajang line is on track to be completed by July 2017, with some 95% of the RM19.8bn contract value already awarded. Meanwhile, Group MD Datuk Lim Yun Ling is planning to renew his contract for another five years. He has been with the company for 35 years. (StarBiz)

MMHE wins RM165m gas project
Malaysia Marine and Heavy Engineering (MMHE) has won a contract worth RM165m from ExxonMobil Exploration and Production Malaysia Inc to build the facilities for the Damar gas development project. Damar is one of several investments that would enable ExxonMobil and Petronas Carigali SB to develop natural gas assets. The project is about 200km off the east coast of Peninsular Malaysia in 55m of water. (BT)

No comments: