Employees Provident Fund : EPF to publish top 30 stock investments online every quarter. Starting today, the EPF will publish its top 30 stock market investments every quarter on its website. The move is meant to improve corporate governance by enabling members to see in which companies their savings are being invested. (Source: Business Times)
Bursa, SC look into proposed Ascot buy
Both Bursa Malaysia and the Securities Commission will take appropriate action if there are elements of misrepresentation or other breaches of securities laws, the SC says. Bursa Malaysia will take the appropriate steps necessary to request Berjaya Corp to issue further clarification on its proposed acquisition of a 70% stake in Ascot Sports SB. In a statement yesterday, the Securities Commission (SC) said it was taking notes on comments raised in the media relating to the matter. Berjaya Corp had announced to Bursa Malaysia last month that Ascot Sports, a company controlled by tycoon Tan Sri Vincent Tan, had been granted a sports betting licence by the government. However, Prime Minister Datuk Seri Najib Razak said on Tuesday that the government had yet to do so. (BT)
Bursa : KL eyes entry into advanced segment of FTSE index series. Bursa Malaysia Bhd's chief hopes Malaysia will be classified as an "advanced" emerging market in the FTSE Global Equity Index Series later this year. This would be an upgrade from its current status as a "secondary" emerging market, a segment which puts it together with 15 other emerging markets. (Source: Business Times)
Hovid to plant oil palms in Columbia
Pharmaceutical company Hovid, via subsidiary Agrovid SA, plans to invest RM3m over five years to plant oil palms in Columbia. "We ventured into Columbia to sell drugs - the legal ones," Hovid managing director David Ho told Business Times in a telephone. Over the years, three successive Colombian ambassadors to Malaysia have persistently presented investment opportunities in Colombia's agriculture to Hovid. Hovid bought two parcels of agriculture land measuring 3,299ha in Alto Manacacias, Puerto Gaitan, for RM3.6m from a local, named Cecilia Rosas De Bustos. (BT)
Genting New York in bid for racino project
Genting New York, LLC, which is believed to be linked to Genting group or its chairman and chief executive Tan Sri Lim Kok Thay and his family, has emerged as one of the six bidders for a project at the Aqueduct Racetrack in New York city. A racino is a combined racetrack and casino gaming operations with the Aqueduct Racetrack expected to hold 4,500 video slot machines. The existing 192-acre Aqueduct is the only racetrack within New York’s city limits. (Financial Daily)
AirAsia X may list in HK or US
AirAsia X (AAX) is considering the possibility of listing on the Hong Kong or New York stock exchange, which are options being proposed by a couple of foreign investment banks pitching to secure the mandate for the long haul budget carrier’s initial public offering (IPO). Even so, no decision has been made on the listing venue of the IPO, which is being targeted for the second half of next year. “All the shareholders will need to be consulted on this issue, which has yet to be raised at board level. But the current foreign shareholders in AAX may be more inclined towards an overseas listing,” said a source close to the exercise. (StarBiz)
Fortis poised for counter bid for Parkway
A twist in the battle for Singapore-listed Parkway Holdings has surfaced, with Fortis Healthcare having announced yesterday that it planned to raise INR27.5bn (USD585m) by issuing securities. India-based Fortis also said its board had approved a proposal to increase its borrowing limit to INR60bn (US$1.27bil). Bloomberg reported that this has put Fortis in a position to battle for Parkway. Khazanah Nasional had on 27 May made a partial general offer worth SGD1.18bn (USD835m) to double its stake and take control of Parkway. (StarBiz)
SP Setia : SP Setia taking new tack with KL project. The country's largest property developer by sales, is targeting to launch its KL Eco City, a RM6 b project in Kuala Lumpur, by December. KL Eco City is a green mixed development located opposite Mid Valley Megamall. It will be developed in three phases over some 10 years. The project is a joint venture with Kuala Lumpur City Hall (DBKL), which owns the 9.7ha leasehold land in Kampung Haji Abdullah Hukum with DBKL taking 20% of the project?s net profit. (Source: Business Times)
Toll Concessions : Panel to study toll hikes. Works Minister Datuk Shaziman Abu Mansor said a working committee will be set up to discuss the necessity of toll hikes. It will look into claims by some highway concessionaires that they are not making profits. Shaziman said the government would not prevent any highway concessionaire from raising toll rates if there were alternative routes to the destination. (Source: New Straits Times)
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