20100730 1415 Malaysia Corporate News.

Dr Ling Liong Sik charged over PKFZ scandal
The Government kept its momentum on the Port Klang Free Zone fiasco going when it charged former transport minister Tun Dr Ling Liong Sik with misleading the Government in relation to the acquisition of a piece of land in Pulau Indah to the tune of RM1.1bn yesterday. (Financial Daily)

Ananda may buy out Tanjong for RM4.4bn
Billionaire Tan Sri T. Ananda Krishnan is set to buy out Tanjong, the second of his listed firms in three days in a deal worth RM4.4bn, two sources with direct knowledge of the deal said. Ananda's Usaha Tegas investment vehicle will launch a bid for Tanjong today at RM20.50 per share for 53% of the 403m shares not held, said the two sources, who declined to identified as they are not authorized to speak to the media. (BT)

Last-minute deferment on listing unavoidable, says Focus Point
Focus Point clarified Thursday that the last-minute deferment notice on its listing exercise made on Tuesday
morning was unavoidable as matters had evolved only at the 11th hour. In a statement, the company said it has been cooperating with the regulatory authorities "to address the malicious allegations against the company and believes that everything will be sorted out in just a matter of time". (Bernama)

Selangor sticks with decision to not allow Syabas to raise water tariffs
The Selangor government reiterated that it would stick to the decision to disagree with a rise in water tariffs as
proposed by Syabas. A statement from the Menteri Besar's office Thursday on the water issue stated that no
matter what the conditions were, there was no agreeing to a rise in water tariffs for customers. The state
government also indicated, it was prepared to defend its stand while saying it would however, not stop anyone, including Syabas from seeking justice in court. (Bernama)

JCorp chief Muhammad Ali quits
Johor Corp's president and CEO Tan Sri Muhammad Ali Hashim surprised the Johor corporate community
yesterday when he walked out of the company's board meeting after announcing his immediate resignation from the post. The 62-year-old Johor corporate personality was earlier scheduled to retire in November. Reasons for his abrupt resignation remain sketchy but there have been talk that quarters in Johor wanted him out due to dissatisfaction of his management and debts incurred by the corporation. (BT)

Alliance eyes 16% ROE
Alliance is aiming for a 16% ROE within at least a year from 11% now, its new chief Sng Seow Wah said. Its
main focus will continue to be on consumer banking, which is its key earnings driver, and SME banking. (BT)

Scomi Engineering eyeing more jobs
Scomi Engineering, a 69.3% subsidiary of Scomi Group, confirmed that it has submitted proposals to upgrade
trains from the existing two-car to four, and is waiting for a decision on the extension of the current KL Monorail line. Previously, it was reported that Scomi Engineering is poised to be awarded a RM600m contract in a bid by the government to fast-track the upgrade of public transportation system in the city. (Financial Daily)