20100722 1710 Malaysia Corporate News.

Wilmar buys NatOleo from Kulim for RM450m
Kulim (Malaysia) will sell its entire stake in its oleochemical products manufacturing unit to Singapore's Wilmar International Ltd for RM450m. It entered into a share sale agreement yesterday with Wilmar's unit PGEO Group SB to dispose of its entire 91.38% stake, or 186.6m shares, in Natural Oleochemicals SB (NatOleo). The remaining 8.62% stake in NatOleo is held by National Land Finance Co-operative Society Ltd. The principal activities of NatOleo are the manufacture and export of oleochemical products such as fatty acids, its fractions and glycerine. Meanwhile, its subsidiaries manufacture soap noodles, palm wax as a feedstock for manufacturing of candles and process esters. (BT )

Mudajaya to see new shareholder?
Market speculation of a potential change in a substantial shareholding of Mudajaya Group has sent shares of the construction-cum-independent power (IPP) player surging. Mudajaya was the top performing stock on the local bourse yesterday, rising 55 sen or 10%, to RM5.71 on heavy volume of over two million shares. (Financialdaily) 

Khazanah sells 5% stake in Telekom Malaysia
Khazanah Nasional, Malaysia’s sovereign wealth fund, sold RM581.3m worth of shares in state-control-led Telekom Malaysia as part of the government’s plans to reduce its local business holdings. Khazanah sold 178.9m shares, or 5%, of the fixed-line phone and Internet service provider, at a fixed price of RM3.25 a share. That’s a 2.7% discount to the stock’s RM3.34 closing in Kuala Lumpur yesterday. (MalaysianReserve)

Khazanah unit gets good response for Parkway offer
In a blow to Fortis Healthcare Ltd, Khazanah Nasional’s unit, Integrated Healthcare Holdings, says it has secured 50.5% approval to date from Parkway shareholders who have voted for its partial offer. This means that it has met one of the two criteria for the partial offer to go through – which is to secure a 50% approval of the stakeholders, as well as to receive acceptances for no less than 313m shares. In an update to the Singapore stock exchange, Integrated Healthcare said it had received an aggregate of 604.93m valid votes from offer shareholders on the partial offer. This represents about 70% of the total number of shares which are eligible to vote on the offer. Of these valid votes received, about 50.5% were to approve the partial offer. In addition, 15.7m shares have been tendered as acceptances. These represent about 5% of the 313m offer shares. (Starbiz)

Time engineering sells 40m Time dotCom shares
Time Engineering (TEB) sold 40.3m shares in Time dotcom in the open market between 12 July and 15 July. Based on an average price of about 52 sen, the Time dotCom’s share sale would have raised RM20.96m for TEB. Time dotCom’s share price closed the day at 57.5 sen. Despite the sale, TEB still holds some 685.88m shares, or 27.1% stake in the company. Shares of TEB and Time dotcom have been rising in the past two trading weeks on speculation that UEM Group, which controls TEB with a 45% stake, was reported to be interested in selling its entire stake in the company as its moves to focus on its core property, construction, maintenance and expressway business. (MalaysianReserve)

Petra Energy to set up new onshore fabrication facility in Sabah
Petra Energy is identifying a suitable site for its new onshore fabrication and logistics facility at Sabah’s oil and gas (O&G) hub in Kimanis. Executive Kamarul Baharin Albakri said the new onshore fabrication facility was part of the group’s strategy to leverage on the growing opportunities in the brown field sector of the upstream O&G industry in the state. (Starbiz)

QSR buys 1.94m KPJ REIT units
QSR Brands has acquired 1.947m units in KPJ Real Estate Investment Trust (REIT) from the open market on 20 July for about RM2.012m. The purchase was funded via internally generated funds. The acquisition was based on better return on investment of about 7.3% (based on current dividend yield) as against the current fixed deposit interest rate of about 2.5% to 3.0%. (Starbiz)

Kulim: Selling NatOleo to Wilmar for RM450m.
Kulim (Malaysia) will sell its entire stake in its oleochemical products manufacturing unit to Singapore's Wilmar International Ltd for RM450m. Kulim said the proposed disposal gives it an exit strategy to unlock its investment value in NatOleo. (Source: Business Times)

Markets: SC approves RM12.6b IPOs, bond issues in 2Q.
The Securities Commission (SC) had in the 2Q this year approved a total of 3 IPOs (RM170m) 15 and bond issues (RM12.43m) that were aimed at raising a combined RM12.6b. (The Edge Financial Daily)

Mudajaya: To see new shareholder?
Share price soared on speculation that an IPP player may purchase a major stake. Unconfirmed market speculation is that IPPs Tanjong plc and MMC Corporation Bhd's unit Malakoff Corp Bhd may be among the parties planning to purchase a significant stake in the company. (The Edge Financial Daily)

Malaysian Mosaics: RM49m plan to privatise Malaysian Mosaics.
The two largest shareholders of Malaysian Mosaics Bhd (MMB), a ceramic tiles manufacturer, plans to privatise the company by paying back a total of RM49m to selective stockholders. (Source: Business Times)