20100609 1218 Malaysia Corporate News.

Separate listings for 3 AirAsia affiliates
The group plans to seek separate listings for AirAsia X, Thai AirAsia and Indonesia AirAsia so that investors can clearly choose to invest by geographic and business models. Long-haul affiliate AirAsia X may seek an initial public listing as early as the second half of next year. (BT)

Hong Leong maintains RM5bn EONCap offer
Hong Leong has asked Bank Negara on 4 June for more time to talk to EONCap as its offer has yet to reach the latter's shareholders. Hong Leong Bank says there is no change to the structure of its all-cash takeover offer for smaller rival EON Capital (EONCap). Hong Leong said its RM5.06bn offer as set out on 1 April this year would be maintained. It said this in response to a query over a report that its adviser had suggested a convertible equity option be structured into the offer. Bank Negara had earlier allowed for the two to be in talks only until 30 June. (BT)

Proton: Lotus not for sale now
Proton Holdings says its wholly-owned Lotus Group International Ltd is not for sale now although it has received unsolicited offers. “The board wishes to state that Lotus is and continues to be a strategic entity within Proton, as well as a technology catalyst,” it told Bursa Malaysia. It was clarifying a news report that said it may sell 40% of Lotus to its management team. (BT)

Mudajaya eyes India projects
Builder Mudajaya Group hopes to secure five ultra mega power projects (UMPPs) in India, each worth US$5bn (RM16.6bn). It was earlier reported that Mudajaya and R.K.M Powergen Private Ltd, an associate company of Mudajaya Corp (which in turn is a wholly-owned unit of Mudajaya Group) are in talks with a Malaysian independent power producer to form a consortium and bid for the UMPPs there. "We are still in talks and hope to get something out of this by the end of the month," said Mudajaya Group managing director Ng Ying Loong. He said the group is hopeful to at least secure one of the UMPPs, which has a generation capacity of 4,000 megawatts (MW) each. (BT)

Petronas hires bankers for US$2bn Petrochem IPO
National oil company Petroliam National (Petronas) has hired Deutsche Bank, CIMB and Morgan Stanley as
book-runners to advise on a planned US$2bn (RM6.64bn) listing of its petrochemical business, sources with
knowledge of the deal said. The listing will likely take place in the 4Q of this year depending on market conditions, one of the sources told Reuters. (FinancialDaily)