Air Asia: To form Philippines unit. Air Asia plans to form a Philippines unit with Antonio Cojuanco, a former chairman of Philippine Long Distance Telephone Co by 1Q11. The domestic and overseas routes would be available in 2011. (Source: The Star)
Scomi Eng: Accepts RM494m price for monorail fleet expansion. Scomi Engineering via its subsidiary, Scomi Rail Bhd (SRB), has accepted the contract price of RM494m for the monorail fleet expansion project. SRB had received a letter from Syarikat Prasarana Negara Bhd (SPNB) on Dec 3 notifying SRB of the intent to award SRB the contract at the quoted price. (Source: The Star)
UEM Land: To buy land in Bangi for RM268m. UEM Land Holdings Bhd will acquire two parcels of freehold agricultural land in Bangi for RM268.5m from Inch Kenneth Kajang Rubber Public Ltd Co. UEM intends to develop a township with a gross development value of RM2.84b spanning 10 years. (Source: The Star)
NFO: Some 4 Digit prize payment reduction approved. Multi-Purpose Holdings Bhd?s unit, Magnum and another listed NFO operator received approval from the Finance Ministry to revise the special prizes of their 4 Digit Big Game from RM200 per RM1 bet to RM180 per RM1 bet. Both companies said the special prizes for the 4 Digit Big permutations would be revised proportionately. (Source: The Star)
Chemicals: Petronas, BASF mull RM4b joint venture. Petronas and Germany's BASF are considering a RM4b joint venture to produce specialty chemicals in Malaysia. The final scope of investments will be determined following the outcome of a joint feasibility study, which is targeted to be completed in 2011. (Source: The Star)
Banking: India's Religare seeks presence in Malaysia. Religare Enterprises Ltd, an Indian financial services group controlled by the Singh brothers, Malvinder and Shivinder, is planning to buy a mid-sized investment bank in Malaysia and Indonesia. Besides India, Religare has presence in Singapore and Hong Kong. (Source: Business Times)
Healthcare: Pantai plans RM500m expansion of hospital network. The Pantai Group plans to expand its network of hospitals in Iskandar Malaysia at an estimated cost of RM500m.The development of the project, which will bear the name Gleneagles Medini Hospital, will be done in phases and is slated to be one of the premium hospitals under Parkway Health. (Source: The Star)
Property: RM500m Azea latest project in Danga Bay. Imperial Marine Pte Ltd, Danga Bay Sdn Bhd and Pembinaan Sahabatjaya Sdn Bhd have formed a 30:37:33 joint venture to develop a RM500m high-end mixed development known as Azea Properties. The commercial project will be undertaken on a 1.7ha site in Danga Bay, one of the key flagship zones within Iskandar Malaysia. (Source: Business Times)
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