KL Kepong: To expand Indonesian landbank. Kuala Lumpur Kepong Bhd (KLK) is expanding its oil palm landbank in Indonesia by another 7,177ha. Its unit KL-Kepong Plantation Holdings Sdn Bhd is buying 95% of PT. Bumi Makmur Sejahtera Jaya (PT BMS) from Tjong Hasan Agus Salim and Tjhang Ardy Fadrinata. Since KLK has engaged a high conservation value study on the land and is carrying out legal and financial due diligence, the deal is likely to materialize in the first quarter of 2012. (Source: Business Times)
SP Setia: Plans 40 corporate office buildings in Setia City. SP Setia Bhd plans to set up about 40 corporate office buildings in its 96ha integrated green commercial hub, Setia City that is worth RM5b in gross development value when completed in 10 to 15 years. The company has secured Top Glove Corp Bhd and Khind Holdings Bhd to set up their corporate headquarters in the hub, which will comprise office towers, hotels, service apartments and a retail mall. ?We are now in talks with a few local companies to set up their corporate office towers here and are not discounting the possibilities to talk to multinational companies in the future,? SP Setia president and CEO Tan Sri Liew Kee Sin said. (Source: The Star)
Maybank: Opens ninth branch in Cambodia. Malayan Banking Bhd (Maybank) has opened its ninth branch in Cambodia to expand customer reach and tap the growing economic potential in that country. ?We have been on an aggressive expansion trail in Cambodia with eight branches opened in the last two years and are targeting to open two more branches by end of 2011,? said Maybank head of global wholesale banking Abdul Farid Alias. Located in Sihanoukville, the latest branch was the third provincial Maybank branch outside Phnom Penh City, after branches in Siem Reap and Battambang. (Source: The Star)
Silverstone sold for RM462m
Lion Forest Industries’ (LFI) subsidiary, Silverstone Corp is selling its entire stake in automotive tire maker Silverstone Bhd to Japan's Toyo Tire & Rubber Co Ltd for RM462m. LFI stands to gain some RM140m from the disposal for the year ending June 2011. The transaction is expected to be completed by the first quarter of next year. (BT)
Kulim: No plans to take group private
Kulim says it is not interested in taking KFC Holdings private for now. "The possibility of privatization is very remote but we never know. Currently, we are not talking or thinking about it but it's never a never," Kulim deputy chairman and MD Ahamad Mohamad said. (BT)
RM5bn compensation for PLUS not guaranteed
The Government may restructure its current concession agreement with PLUS to avoid paying compensation of as high as RM5bn to freeze toll hikes for the next 5 years under the present agreement. However, Minister in the Prime Minister’s department Tan Sri Nor Mohamed Yakcop said this would depend on the outcome of the restructuring to be undertaken by the EPF and UEM Group upon taking over the largest toll operator in Malaysia. (The Malaysian Reserve)
TM confident of wooing 5,000 SMEs to Unifi this year
TM is confident of having 5,000 small businesses use its Unifi high-speed broadband service this year. Since its launch in March, TM has 16,000 Unifi customers with more than 2,400 of them from small and medium enterprises, said TM EVP of SME Shanti Jusnita Johari. (BT)
KFC plans to operate 17 outlets in India by next year
KFC expects to operate 17 KFC fastfood stores in India by the end of 2011, starting with restaurants in Mumbai and Pune. By year-end, the company will have 9 operating restaurants, with 4 more new outlets and 2 existing outlets in Pune being acquired from Kernel Foods Pvt Ltd, an existing franchisee of KFC in India. (The Malaysian Reserve)
Fajarbaru gets RM36.5m job
Fajarbaru Builder has obtained a RM36.5m contract from East Coast Economic Region Development Council for the proposed construction and completion of earthworks and infrastructure works for Pasir Mas Halal Park Phase 1 in Kelantan. The construction period is 15 months commencing November. (StarBiz)
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