AirAsia: Indonesia IPO to raise USD200m, Sarawak offers land to AirAsia for LCCT. AirAsia Indonesia, a unit of AirAsia Bhd, aims to raise USD150m to USD200m via an initial public offering (IPO) in 4Q11. Separately, the Sarawak government has offered a piece of land next to the Kuching International Airport to AirAsia Bhd to build a dedicated low-cost carrier terminal (LCCT). (Source: The Star)
TRC Synergy: Expects new contracts. TRC Synergy Bhd (TRC) is expected to increase its order book this year with more contract wins, mainly from road projects in East Malaysia and also potential involvement in MRT (mass rapid transit) project. (Source: Malaysian Reserve)
Banking: Further tightening by Bank Negara in mortgage lending sector. Bank Negara would be taking pre-emptive measures in the mortgage lending sector to reduce risks. Banks will have to hold more capital for mortgage loans. Mortgages with loan-to-value (LTV) ratio of more than 90% will have to carry weightage of 100%, compared with 75% previously. The risk weightage for LTVs that are less than 80% remains 35% and for those between 80% and 90% remains at 50%. (Source: The Edge Financial Weekly)
Manufacturing: Investments hit RM4.6b. The manufacturing sector saw approved investments totalling RM4.6b in 67 projects in January. The largest domestic investment came from the oil and gas sector, led by Malaysia Marine and Heavy Engineering Bhd with a total investment of RM2.3b. Foreign investments approved totalled RM600m with Singapore, France, Japan, United Kingdom and India accounting for the major source of investments. (Source: The Star)
RM7.5bn project for DRB-HICOM
DRB-Hicom Bhd is poised to receive a letter of award to supply 257 units of armoured personnel carriers (APCs) worth up to RM7.5bn from the overnment, this week, people with knowledge of the project financing said. Business Times understands that a group of banks are preparing to provide partial financing for the project. A group of banks led by Maybank, RHB Bank and AmBank are helping to arrange the syndicated loan and other financing, which could be worth as much as RM3.5bn. Under the terms of the contract, DRB-HICOM will deliver the armoured-wheeled vehicles to the Government by 2016. The group will come out with the first vehicle sometime early next year. DRB-HICOM's defence unit, DRB-HICOM Defence Technologies SB (DEFTECH), will be undertaking the project. DEFTECH is to build 12 variants of the APC from the base vehicle, including personnel carrier, anti-tank weapon carrier, command and control and anti-aircraft weapon vehicles. "The contract is for a seven-year period," said a finance executive familiar with the massive project. (BT)
Germany-based TMW to sell 3 malls in Malaysia
MW Asia Property Fund, which is based in Germany, is selling three of its shopping complexes in Malaysia which it purchased in 2005 for an estimated RM500m. The shopping complexes are Ipoh Parade in Perak, Klang Parade in Selangor and Seremban Parade in Negri Sembilan. International property consultant Rahim & Co, which has been appointed as the exclusive agent to handle the deal, declined to comment when contacted. The fund is managed by Pramerica, the real estate investment management business of Prudential Financial Inc from the US. It is understood that the closing date for the tender is tomorrow. It is unclear how many bids have been submitted, but sources said that the tender had attracted interests from abroad. The fund bought the three properties - under the operating companies Lion Klang Parade Sdn Bhd, Lion Seremban Parade SB and Lion Ipoh Parade Sdn Bhd - for RM340m in 2005 from the Lion group. (BT)
Maxis in ‘final stages’ to wrap up deal with Baraka Telecom
Maxis Bhd, the largest mobile phone network company in Malaysia, is close to securing a three-year deal to provide telecommunication services to Kuwait’s Baraka Telecom SB in Malaysia. The Malaysian Reserve has learnt that negotiations between the two parties are now in the ‘final stages’ and a formal agreement would be signed ‘soon’ that would mark Baraka’s return to the so-called mobile virtual network operator (MVNO) business here in Malaysia. It is understood that Baraka Telecom, a unit of Kuwait-based Reach Telecom Holding KSCC, seeks to provide Shariah-compliant telecommunication services to the public although exact details of the plan are still sketchy. (MalaysianReserve)
Sunway secures RM258m Legoland contract
Sunway Holdings wholly-owned subsidiary, Sunway Construction SB, has secured a RM257.97m contract from IDR Assets SB to build package four of the Legoland Malaysia Theme Park development in Johor. The company announced on Bursa Malaysia last Friday that the project is scheduled to be completed in 2 June 2012. IDR Resorts SB, a member company of Iskandar Investment, in responsible for the development of Legoland Malaysia, in partnership with Merlin Entertainments. (MalaysianReserve)
Fajarbaru bags two contracts worth RM150m
Fajarbaru Builder Group Bhs, a construction and engineering company, has secured two contracts worth RM150.05m as the subcontractor to work on the light rail transit (LRT) extension. Both contracts would last 21 months and would contribute to earnings and net asset from financial year ending 30 June 2012 o 2013. The first contract, worth more than RM87m, would see Fajarbaru working on the Kelana Jaya Line of the LRT involving construction and commissioning of three stations as well as all other related works. Meanwhile, the second contract is valued at RM62.67m involving two stations and other associated project along the extended Ampang Line. (MalaysianReserve)
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