20110401 1019 Malaysia Corporate Related News.

KLCI chart reading :
upside biased with possible pullback, immediate resistance near 1560 level.

Crescendo climbs as Q4 earnings triple
Crescendo Corp, a Malaysian property developer, rose the most in three months in Kuala Lumpur trading after saying fourth-quarter earnings more than trebled to RM14.3 million. (Business Times)

Delloyd acquires factory, land
Delloyd Ventures has acquired two pieces of freehold industrial land with buildings and a paint shop in Perak for RM18m cash. The acquisition represents an opportunity for the company to increase its automotive components manufacturing capacity. (Financial Daily) 

HELP International Corp sees potential in Sri Lanka and Cambodia
KUALA LUMPUR: HELP International Corp Bhd (HIC) is looking to expand into Sri Lanka, Cambodia, the Middle East and Africa to franchise its education programmes as well as offer professional niche courses for business continuity to rev up its revenue stream. (StarBiz)

Handal rights oversubscribed
PETALING JAYA: Handal Resources Bhd’s rights issue of 60 million ordinary shares together with 60 million free warrants have been oversubscribed by 76.26%. (StarBiz)

Malaysia Building Society expects to lend RM6bil
KUALA LUMPUR: Malaysia Building Society Bhd (MBSB) expects to lend a record RM5bil to RM6bil to civil servants this year after shareholders approved a cash call that would bump up its capital ratios and allow it to lend more money. (StarBiz)

Nam Fatt signs pact with white knight
NAM Fatt Corp has signed a heads of agreement with businessman Tan Sri Ta Kin Yan to help revive the company’s financial condition. The white knight will participate in the proposed plan which includes a reverse take-over exercise. “The main objective of the heads of agreement IS to ultimately implement the proposed regularisation plan to return Nam Fatt to a better financial standing and profitability, thereby benefiting all stakeholders of the company,” the company said in a statement to Bursa Malaysia. (Financial Daily)

SAM to buy engine casing firm
SAM Engineering & Equipment (M) has proposed to acquire an engine casing manufacturing division from Singapore Aerospace Manufacturing Pte Ltd for RM135m and restricted issue of irredeemable convertible unsecured loan stocks (ICULS) of up to 33.75m ICULS to minority shareholders of SAM. SAM in a statement yesterday said the acquisition would be satisfied by the issuance of 101.25m ICULS at an issue price of RM1 each to SAM Singapore and the remaining RM33.75m in cash. The proposals were in conjunction with the proposed restricted offer for sale exercise by Singapore Precision. (StarBiz)

Sapura Res leaps on Q4 profit turnaround
Sapura Resources Bhd, a Malaysian property company and computer distributor, rose the most in almost five months in Kuala Lumpur trading after announcing a fourth-quarter profit of RM21.9 million following a loss during the same period a year ago. (The Edge)

Sunway REIT buys Putra Place for RM514m and plans major renovation
Sunway Real Estate Investment Trust (Sunway REIT) has bought The Putra Place in a public auction for RM513.95m, confirming a Business Times report yesterday. Sunway REIT said the deal will provide geographical diversification and enlarge its portfolio of properties. Sunway REIT Management SB, the manager for Sunway REIT, is planning a major renovation of the property under a turnaround exercise. "Upon completion of this turnaround exercise, the manager believes that the property will enjoy upside on capital appreciation as well as improved yield," it said. (Business Times)

TDM rises on final dividend plan
TDM Bhd, a Malaysian palm oil producer, rose to its highest level in more than three weeks in Kuaala Lumpur trading after the company proposed a final dividend of 13.5 sen a share. (Business Times)

TIME-Measat IPTV deal
TIME Dotcom’s wholly-owned subsidiary, TT Dotcom SB (TTdC), has entered into a collaboration agreement with Measat Broadcast Network Systems SB (MBNS) to provide Internet Protocol television (IPTV) and broadband services across the Klang Valley and Penang. The agreement will be for 10 years beginning from 1 April 2011. With the deal, TTdC is expected to acquire customers at a faster rate in the target areas, and leverage on the strengths of TIME’s 100% pure fibre optics network. (Business Times)

CIMB: In quick U-turn on BLR. CIMB Bank and CIMB Islamic Bank Bhd will not raise their respective base lending rate and base financing rate. The two banks back tracked on their decisions in less than 24 hours after having announced a rise in lending rates on Wednesday. (Source: The Edge Financial Daily)

Maybank: Sets price of DRP shares. Malayan Banking Bhd (Maybank) has fixed the issue price of new shares under its dividend reinvestment plan (DRP) at RM7.70 each. (Source: Bursa Malaysia)

MAHB: Expects RM1b revenue from commercial services. Malaysia Airports Holdings Bhd expects one third of its expected revenue of RM3b to originate from commercial services by 2014. (Source: The Edge Financial Daily)

Perisai: Explains its proposed Garuda Energy deal. Perisai revealed that with the acquisition of Garuda Energy, it would assume a debt of RM120m of the latter. (Source: Bursa Malaysia)

O&G: MOX-Linde upbeat on M'sian ops. MOX-Linde Gases Sdn Bhd, a local subsidiary of the Germany-based industrial gas company The Linde Group, is set to invest further in the country. The company planned to set up two production facilities in Iskandar Malaysia. (Source: The Star)