20100624 1442 Latest Malaysia Corporate News.

KUALA LUMPUR, June 24 (Reuters) - A slate of Malaysian companies are planning to tap the stock market for funds later this year but uncertainty about the debt crisis in the euro zone may cast a shadow over the outlook for the IPOs.
Following are some major IPOs that have been announced:
 

• State oil firm Petronas has hired Deutsche Bank,  CIMB and Morgan Stanley as book-runners to advise on a planned $2 billion listing of its petrochemical business. The listing will likely take place in the fourth quarter of this year depending on market conditions. 
• Property developer Sunway City Bhd is planning the listing of a real estate investment trust (REIT) mid-July. The REIT, with a fund size of 2.78 billion units, will raise around $500 million and is set to become Malaysia's largest when it is listed. 
• Malaysia's long-haul budget carrier AirAsia X plans to launch an initial public offering in the second half of 2011 to tap public funds for growth, the company said. Asia's biggest budget airline by fleet size, AirAsia, owns 16 percent of AirAsia X. 
• Shipping firm MISC has hired Credit Suisse and Maybank for the initial public offering of its heavy engineering unit, said IFR, a Thomson Reuters service. The proposed IPO of Malaysia Marine Heavy Engineering will raise over $300 million.
• Bumi Armada, an offshore oil services company controlled by Malaysian billionaire Ananda Krishnan, is planning an IPO that was earlier estimated at $450 million in size but could be larger following a reorganisation, according to IFR.