Singapore ‘remisier king’ in TMC
Peter Lim Eng Hock, long dubbed Singapore’s “remisier king” and one of the island-republic’s richest men, has emerged as the new shareholder in healthcare player TMC Life Sciences with a 29.6% stake following the exit of founder and managing director Datuk Dr Colin Lee Soon Soo. Lim is believed to have bought a collective 25% stake from Colin Lee and his brother Lee Soon Swee, in two off-market trades on Tuesday at 52 sen a share for a total of RM77.8m. It is uncertain where the remaining 4.6% of Lim’s stake came from. Colin will remain as its managing director. (Financial Daily)
Jetson’s termination of JV a sign of brewing tussle
Kumpulan Jetson’s subsidiary Jetson Construction SB has terminated its joint venture agreement with China State Construction Engineering (Hong Kong) Ltd, which was entered into to build Platinum Park here. The parties have mutually agreed to terminate the JV deal, which was entered into on 6 May for the purpose of jointly submitting a tender on Naza TTDI SB’s invitation to develop a 38-storey office block and 10 levels of podium for Platinum Park in Jalan Stonor in KL City Centre. In an announcement to Bursa Malaysia yesterday, Jetson said the termination stemmed from the inability of the parties and Naza TTDI to reach a consensus in relation to the payment arrangement in respect of the first progress payment. (Financial Daily)
MPB extends offer for NSTP to 14 Sept
Media Prima (MPB) has further extended the closing date for the takeover offer of The New Straits Times Press (Malaysia) (NSTP) until 5pm on 14 Sept, the second and final extension as permitted under the Malaysian Code on Takeovers and Mergers 1998. In a statement yesterday, MPB said it held a total of 96.85% of shares in NSTP as of Tuesday. It said extensions would provide ample time for the remaining shareholders to take up the offer to swap their shares. (Financial Daily)
EON Cap delays shareholder vote on Hong Leong takeover
EON Capital has postponed an EGM scheduled for today to vote on Hong Leong Bank’s RM5.06bn takeover offer after a minority shareholder tried to block it in court. A stockholder owning 200 shares filed a High Court summons in Kuala Lumpur challenging the validity of the EGM on the grounds that not enough notice was allegedly given. A new date will be fixed for shareholders to vote, the lender said in a filing to Bursa Malaysia yesterday. (Malaysian Reserve)
Celcom Axiata issues RM4.2bn sukuk
Celcom Axiata, the second largest mobile telco by number of subscribers in Malaysia, issued RM4.2bn Islamic bonds in a private offering to three local institutional investors. The Employees Provident Fund (EPF) agreed to take up RM3.4bn of the Islamic bond, also known as sukuk, while CIMB Islamic Bank and Malayan Banking took up the remaining RM800m equally, according to a statement from Celcom, a unit of Axiata Group. (Malaysian Reserve)
Handal JV secures RM12.3m contract in Indonesia
Handal Resources’ wholly-owned unit Handal Offshore Services SB (HOSSB) announced that its joint venture bid has secured a contract worth USD3.9m (RM12.31m) from Pertamina Hulu Energi ONWJ Ltd to operate, inspect and maintain up to 200 cranes offshore the north west Java sea in Indonesia. In a release to Bursa Malaysia yesterday, Handal said HOSSB jointly bid for the project with PT Encona Inti Industri and PT Cakra Daya Energy with HOSSB holding a 50% in the joint bid that was submitted under the name of Encona. (Malaysian Reserve)
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