Wednesday, December 12, 2012

20121212 1012 Malaysia Corporate Related News.

Malakoff proposes relisting on Bursa Malaysia next year
Malakoff Corp (MCB), a 51%-owned unit of MMC Corp that was taken private in 2007, has proposed a bonus issue, conversion and splitting of shares prior to its proposed relisting on Bursa Malaysia next year. Malakoff is the largest independent power producer in Malaysia with an effective power generation capacity of 5,020MW representing 22.5% of Malaysia’s total installed capacity. It has also the largest effective power generation capacity in Southeast Asia. (Malaysian Reserve)

Proton signs RM63m deal to buy engine technology from Petronas
Proton, a subsidiary of DRB-Hicom, has signed a RM63m agreement to buy engine technology from Petronas, which developed it as part of its involvement in Formula One racing sponsorship. The technology, covering 2.0-litre and 2.2-litre turocharged engines developed by Petronas Technology Ventures SB in 1997, will be used in Proton cars and possibly in models made by Proton-owned Lotus Group plc. (Malaysian Reserve)

Westports eyes overseas market to expand its business
Westports Malaysia SB, operator of the country’s busiest port, is looking at the overseas market to expand its business beyond Malaysia via partnerships. Its CEO Ruben Emir Gnanalingam said Westports was looking at a few potential markets, particularly in Southeast Asian countries and India, to expand its container business. He said despite the slowing down of demand in Europe, the US and China, fast-emerging markets such as India and countries in Africa and the Middle East were continuing to grow. (Financial Daily)

BToto gets nod for business trust listing in Singapore
Berjaya Sports Toto (BToto)'s proposed Sports Toto Malaysia (STM) business trust listing in Singapore has received approval to be listed on the republic's stock exchange soon. In a statement to Bursa Malaysia, BToto said yesterday it had received a conditional eligibility-to-list letter from the Singapore Exchange Securities Trading Ltd for the listing of the STM-Trust on the Main Board. News reports said BToto was seeking about SGD500m (RM1.3bn) from the IPO of the STM-Trust. (BT)

MCMC defends spectrum award to Puncak Semangat
The Malaysian Communications and Multimedia Commission (MCMC) has defended the allocation of a prized piece of spectrum to Tan Sri Syed Mokhtar Al-Bukhary-linked Puncak Semangat SB, saying the company’s entry will invigorate competition in the market as well as promote network sharing between old and new players. The regulator’s chairman, Datuk Mohamed Sharil Tarmizi, also dismissed reports that Puncak Semangat had received the “lion’s share” of the 2.6GHz bandwidth. (StarBiz)

Maxis: Sets aside MYR500m to activate 4G services. Maxis Bhd has allocated half a billion ringgit over the next three years to activate 4G Long Term Evolution (LTE) services as part of its ongoing network investments. Maxis' 4G LTE service will offer download speeds 10 times faster than 3G and work seamlessly with its existing 3G networks. (Source: Business Times)

Genting Plantation: JPO second phase to start ops in Q4 next year. The second phase of the Johor Premium Outlets (JPO), offering an additional 40 designer and high-end stores, will begin operations in the fourth quarter of 2013. Genting Simon director Alex Phang said the company had initially planned to launch the second phase in the third or fifth year of JPO's operations. However, JPO - the first Premium Outlet mall in Southeast Asia - has met the operator's target of four million visitors in the first year of operations. (Source: Business Times)

IJM Land: Starting its MYR5b Penang project in 2013. IJM Land Bhd will commence work for its MYR5b commercial precinct next to the Penang Bridge in the second half of next year. Its chief executive officer Datuk Soam Heng Choon said the commercial precinct located on a 102-acre site would comprise four hotels, a shopping centre, a convention centre, and an international business district. The commercial precinct would be developed in stages and would take seven to eight years to complete. (Source: The Star)

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