AirAsia weighs dividend payout
Budget carrier AirAsia is now ready to consider paying dividends to its shareholders, said group chief executive officer Datuk Seri Dr Tony Fernandes. No timeline has been set as its board of directors will now actively look into a possible dividend policy for the airline, which was first listed in 2004. (BT)
Tengku Ibrahim files suit against Petra Perdana
The tussle at Petra Perdana and its 29.6% unit Petra Energy was nudged up a notch with the faction led by Tengku Ibrahim Petra filing a suit to adjourn Petra Perdana’s AGM slated for 28 June, 2010. Petra Perdana said the company was served with a summons in chambers and originating summons together with copies of the affidavit in support in relation to the adjournment of the AGM until the disposal of the suit. (FinancialDaily)
A total of 17 contractors eye LRT infrastructure jobs
A total of 17 contractors are bidding for the infrastructure works in the first phase of the extension jobs of the LRT projects involving the Kelana Jaya LRT and Ampang lines. Among the big names are Sunway Construction SB, IJM Engineering SB, Muhibbah Engineering SB, Gamuda, Bina Puri, Loh & Loh, MRCB Engineering as well as JV such as WCT-Sinohydro, Ranhill-CCCC and UEM Builders-Intra Bina. The first phase extension will involve a total 16.6km. The first phase of the main construction works for the estimated RM7bn LRT extension is expected to start in November and be completed in three years. (FinancialDaily & StarBiz)
Top Glove in talks to buy small regional companies
Top Glove Corp is eyeing to acquire small regional rubber glove companies this year while focusing on setting up one or two new plants each year, said chairman Tan Sri Lim Wee-Chai. (StarBiz)
National master-plan for public transport
The Land Public Transport Commission (SPAD) will draw up a public transport master-plan in 6 to 12 months from September to ensure the holistic development of public transport in the country. The commission, which was set up early this month to regulate the land public transport sector, will fully take over as a regulatory body from September. (StarBiz)
EPIC to spend RM30m on supply base expansion
Eastern Pacific Industrial Corp (EPIC) expects to spend some RM30m to expand its supply base in Kemaman, Terengganu, to cope with rising demand for its facilities and services from oil and gas players. Its chairman Datuk Tik Mustaffa said work on Phase 2B of the project will start by September this year and should be completed within the next six months. "Upon completion, Phase 2B, which covers 11.2ha, will house warehouses, including open space storage facilities. Probably, we would be able to offer about 10 warehouses for our potential clients at the new site," he told reporters after the company's AGM in Kemaman yesterday. (BT)
EONCap adviser proposed higher takeover price of RM6.18bn
An independent financial adviser appointed by the board of EON capital has recommended a fair and reasonable takeover price of RM6.18bn, or RM8.91 per share, 22% higher than Hong Leong Bank’s offer, according to details by Primus SB on Monday, which suggests that Primus may settle for an offer, which incidentally is lower than its cost of RM9.55 per share. (FinancialDaily)
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