Water: Debt notes ratings downgraded, urgent govt intervention required
MARC and RAM have downgraded the ratings of debt notes issued by players in the Selangor water sector and cautioned of further downgrades in the absence of progress in industry restructuring. The issuers affected were Syabas, Puncak Niaga, Splash, RUN Holding SPV, Viable Chip (M) SB, Destinasi Teguh SB and Sungai Harmoni SB. (StarBiz)
Petronas Chemicals to list at PE of 15 times
Petronas Chemicals Group is likely to list at a price earnings multiple of around 15 times earnings, industry experts familiar with the exercise said. Although no details have been revealed on the size of the offering, it has been reported that banking sources familiar with the company reckon it could be valued as much as USD2bn. (StarBiz)
Tan Chong to assemble, distribute CKD buses
Tan Chong Motor Holdings’ subsidiary has been given the exclusive rights to assemble and distribute CKD buses under the Silver Bus brand in Malaysia. Silver Bus is a joint-venture company between Volvo Bus Corp and Xi'an Aircraft Industry. The agreement is for a period of 10 years. (BT)
George Kent bids for RM1bn projects
George Kent is bidding for more than RM1bn worth of domestic and overseas projects for its infrastructure investments, water and construction (IWC) division which is expected to be the main income generator for the group in the near future. The group was eyeing 5 IWC projects and it would take 3 to 6 months for negotiations in the tender process to be completed. (Financial Daily)
Cypark eyes RM2.5bn jobs, plans regional expansion
Cypark Resources may add about RM1.5bn to RM2.5bn to its orderbook if its bids for the 112 unsanitary landfill closure projects from the Malaysian government under the 10th Malaysia Plan are accepted. The company is seeking to raise as much as RM33m from its IPO and expects to list on Bursa Malaysia by end of the year. (The Malaysian Reserve & BT)
No comments:
Post a Comment