BToto may give special dividend
Berjaya Sports Toto (BToto) shareholders may get a special dividend of over RM0.40 per share from the secondary IPO of Sports Toto Malaysia Trust in Singapore. Executive director Freddie Pang added that proceeds from the IPO would also take care of a RM550m loan issue currently held under Sports Toto Malaysia. The payment is to be staggered over four years, until 2017. The listing of the Trust should be completed end-Jan 2013. (Financial Daily)
Quek offers to take Guoco private for RM3.25bn
Tan Sri Quek Leng Chan has made an offer of HKD8.25bn (RM3.25bn) to take its Hong Kong-listed investment holding Guoco Group Ltd private, which is a 24.8% premium over Guoco’s last traded price before the offer. Quek owns a 75% stake in the company. Guoco owns a 25.4% stake in Hong Leong Financial Group, through which it further owns a 64.4% stake in Hong Leong Bank and a 79.1% stake in Hong Leong Capital. (StarBiz)
MBSB buying tower in PJ Sentral
Malaysia Building Society (MBSB) is buying a tower of about 30 storeys in the upcoming PJ Sentral for RM239.2m to cater for its increasing staff count and consolidate all of its subsidiaries under one roof. Tower 3, with a net lettable area of 281,455 sq ft, is more than double MBSB’s current capacity, will be developed over 33 months with completion slated for the final quarter of 2016. (StarBiz) Please see accompanying report.
Malaysia to make rail decisions by 1Q2013
The government will decide by 1Q2013 when the bullet train and the Gemas-Johor Baru electrified double tracking project (EDTP), with a combined worth of about RM35bn, will be implemented, sources said. Malaysia is planning to build a 300km high-speed rail (HSR) line linking Kuala Lumpur and Singapore under a public-private partnership. The project will cost about RM20bn to RM25bn. The Land Public Transport Commission (SPAD) is conducting a study on the HSR system, which it expects to complete by the end of this month. If feasible, SPAD will call for pre-qualification bids by mid-2013. (BT)
CIMB: On high with success of China Machinery IPO. CIMB Investment Bank scored a coup with the initial public offering of China Machinery Engineering Corp, its first Chinese state-owned enterprise listing, as the sale is already oversubscribed. Finance Asia reported yesterday that China Machinery, an international engineering contractor, kicked off a four-day roadshow with a target to raise between HKD2.9 and HKD3.9b (MYR1.2b and MYR1.5b). The stock is set to be floated in Hong Kong on Dec 21.
(Source: The Star)
Media Prima: Forms digital arm to expand revenue. Media Prima Bhd has launched a newly integrated digital media arm, Media Prima Digital, which will become the group's new source of revenue and be targeted to be one of the core businesses in the future. The integration if part of Media Prima's broader strategy of streamlining and optimizing its digital business, which now exists across several platforms covering print, broadcast and radio. (Source: The Edge Financial Daily)
Media: New digital cable TV ABN targets 80% of TV households in 5 years. The ABN Media Group, the new digital cable TV company that began offering trials of its ABNxcess services in June this year in select areas, is targeting to reach 80% of the 6m TV households in 5 years time by offering its basic package at MYR29.99 a month. Service is now available in Sri Damansara, parts of Subang and we will begin broadcasting in two areas in Johor Baru this month. ABN is a unit of ABN Media Group, which is investing RM2b to offer pay-TV services in the country. It is in direct competition with satellite pay-TV operator Astro and IPTV provider, Telekom Malaysia Bhd. (Source: The Star)