ASX denies report it held merger talks With Bursa Malaysia
ASX Ltd rejected a media report suggesting Chief Executive Robert Elstone approached Bursa Malaysia earlier this year seeking a merger. Bursa Malaysia has also denied there was any such approach. (Bloomberg)
Carrefour suspends sale of stores in Malaysia, Singapore
Carrefour has suspended the sale of its Malaysian and Singapore stores after bidders, including Japan's Aeon Co Ltd, offered too little to persuade the French retailer to part with the operations, two sources said. Carrefour rejected offers in a second round of bidding that closed on 5 Nov and informed the potential buyers that the sale process has been put on hold, according to sources. (BT)
Sime may sell off some businesses
Sime Darby is considering selling off some of its businesses but will not be spinning off its lucrative units such as plantations as yet for a separate listing on the stock exchange. Acting president and group chief executive Datuk Mohd Bakke Mohd Salleh said there were a handful of businesses that might be divested or offered to its jointventure partners to be taken over. (StarBiz)
Proton eyeing Renault-Nissan involvement
Proton, which is set to take a 25% stake in Renault Formula One team, is seeking to expand its relationship with the Renault-Nissan alliance into passenger cars and potentially as a strategic partner to the national auto company. Plans are afoot to have Renault-Nissan involved in the Proton global car, named Emas, which is slotted for production by 2012. Furthermore, industry sources indicated that Proton would be looking at the alliance to provide a model to replace the Perdana model. (StarBiz)
Perodua: Record car sales likely next year
Perodua MD Datuk Aminar Rashid Salleh expects vehicles sales in Malaysia to hit 600,000 units, a new high, in 2011. He added that Perodua was confident of achieving its sales target of 185,000 units this year. (StarBiz)
YTL sees good demand for WiMAX service
YTL Communications is seeing “dramatic” demand for its WiMAX service in Malaysia, with pre-registrations for the product exceeding expectations three times, said executive chairman Tan Sri Francis Yeoh. Yeoh declined to give a specific target for the “yes” wireless Internet and voice service. (StarBiz)
O&G: Petronas working on oil and gas incentives. The Government is working closely with Petroliam Nasional Bhd (Petronas) to draw up incentives for oil and gas companies to optimise the nation's oil output. The incentives would help boost the industry and set the stage for Malaysia to become a regional hub for oilfield services. Petronas will announce specific incentives for the oil and gas sector in due course. (Source: The Star)
O&G: Schlumberger opens financial hub in Malaysia. Schlumberger Ltd opened its financial hub in Kuala Lumpur which will create employment opportunities for about 400 people next year. The Schlumberger Financial Hub is part of the Entry Point Projects (EPPs) to attract 100 multinational companies (MNCs) to set up their global or regional headquarters in the Greater Kuala Lumpur or Klang Valley under the Economic Transformation Programme (ETP). The hub will provide financial and accounting services to Schlumberger's businesses in Asia Pacific, the Middle East, European and African regions and 75% of its employees hired here will be Malaysians. (Source: The Edge Financial Daily)
Plantation: Malaysia, Indonesia in united stand to promote palm oil. The world's top palm oil producers - Malaysia and Indonesia - have concluded a two-day Joint Malaysia-Indonesia Ministerial Mission to the European Union (EU) to address concerns on the EU Renewable Energy Directive (RED) set to be implemented by Dec 5. The EU commissioners have indicated they were willing the review the EU RED criteria on palm oil if Malaysia and Indonesia were able to provide more inputs in the form of data and proven research. (Source: The Star)
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