20100830 1009 Malaysia Corporate News.

Wilmar buys rest of Natoleo shares
PPB Group Bhd said its 18.4% associate, Wilmar International Ltd, via wholly-owned unit PGEO Group SB, has signed an agreement last Thursday to acquire the remaining 8.62% in Natural Oleochemicals SB (Natoleo). It will buy the stake from National Land Finance Cooperative Society Ltd for RM42.45m cash or RM2.41 per share. Last month, PGEO signed a deal to buy 91.38% in Natoleo from Kulim (M) Bhd for RM450m, or RM2.41 per share. (StarBiz)

MMC’s unit preps RM1.5bn Islamic note
MMC Corp Bhd’s 70%-owned subsidiary Pelabuhan Tanjung Pelepas SB, has established an Islamic medium term note programme of up to RM1.5bn. Proceeds from the from the 10-year Syariah compliant note will be used to finance the development of the port of Tanjung Pelepas and as working capital. The first issuance under the programme is expected to be made in September this year. (Financial Daily)

Sarawak Energy may again seek lower tariffs
Sarawak Energy Bhd, the state utility firm that will buy power from the Bakun dam, is expected to put in a fresh proposal for lower tariffs during the ramp-up period between 2011 and 2015, sources said. Bearing in mind that power usage in Sarawak is likely to take off only in 2015, it is asking for lower tariffs, probably to mitigate the situation while trying to cement some of the investment deals from heavy users such as aluminium smelters. The smelters are said to be willing to buy power at 12 to 13 sen per kilowatt-hour (KwH). Sarawak Energy is offering six to seven sen per KwH while Sarawak Hidro had asked for nine sen per KwH. Industry observers indicated that even if Sarawak Energy were to buy from Bakun at nine sen per KwH, pay an additional two sen per KwH for transmission costs, it can still earn one or two sen more. (StarBiz)

Tanjong listing on LSE cancelled
Tanjong Plc’s standard listing on the London Stock Exchange has been cancelled with effect from 8.00am London time yesterday. Following the cancellation, Tanjong shares will no longer be traded on the exchange. (StarBiz)

Maxis awards contract to Huawei
Maxis Bhd has appointed Huawei as the exclusive supplier for its Next Generation High-Speed Internet network. The job will also include the building and managing of a full-service Fibre To The X network using GPON technologies. In a joint statement on Friday, the companies said this would offer Maxis subscribers fresh fixedmobile convergence (FMC) services, which included high-speed Internet services after its completion within the year. “An agreement was inked on 19 Aug to formalise the partnership,” it said. The statement said under the agreement, Huawei would offer an end-to-end turnkey services package that included active and passive equipment, holistic optical distribution network designs, and construction management for the construction of the Next Generation High-Speed Internet network. “Upon completion of the project, a network of homes in Klang Valley, Penang and Johor Bahru will be connected on a last-mile basis, using fibre-to-the-home (FTTH) wired technologies,” it said. (StarBiz)