20110407 1104 Malaysia Corporate Related News.

KLCI chart reading :
correction range bound upside biased.

Auto parts supply chain woes
The disruption to the automotive industry supply chain caused by Japan’s earthquake and tsunami could be more serious than expected for local players. It is learnt that given the seriousness of the situation, officials from Japan’s Daihatsu Motor Co will meet with its component vendors for Perusahaan Otomobil Kedua SB (Perodua) next week to explain the implications of possible supply disruption and provide an update on the scenario ahead. Meanwhile, industry sources said Perodua would be briefing some of its dealers today that it would possibly delay the launch of its replacement model for Myvi. (Financial Daily)

Masterskill to set up facility in Indonesia
Masterskill Education Group Bhd, the operator of Masterskill University College of Health Sciences, intends to open a campus in Indonesia soon in a move to diversify geographically, sources said. The education group would form a JV with Indonesia-based hospital owner PT Sejahteraraya Anugrahjaya (PTSA) for the venture, according to sources. Under the plan, which is in its preliminary stages, the new campus would be able to enroll about 20,000 students for each semester, said sources. (Financial Daily)

Tan Chong taps luxury car segment
Tan Chong Motor Holdings Bhd is tapping the luxury vehicle segment with the proposed distribution and sale of Infiniti vehicles in Malaysia. The automaker announced yesterday it had incorporated a company called Inspired Motor Sdn Bhd (IMSB) to undertake the proposed distribution and sale of Infiniti vehicles. In an announcement to Bursa Malaysia, Tan Chong said its wholly owned unit Edaran Tan Chong Motor SB (ETCM) holds a 70% equity interest while Auto Dunia SB (ADSB) owns the remaining 30%. (Financial Daily)

RHB aims to seal deal for Indonesia's Bank Mestika in July
RHB Banking Group, the country's fourth largest bank by assets, aims to finally seal the deal for Indonesia's PT Bank Mestika Dharma in July, after numerous rounds of delays. The group's listed entity, via RHB Capital Bhd (RHBCap), first announced plans to buy 80% of Bank Mestika for some RM1.16bn in Oct 2009. However, the plan ran into delays due to queries from the Indonesian central bank relating to disclosure as well as structure of the banking group. Since then, changes have been made, with RHB Bank, which is an entity of RHBCap, now being proposed as the party to undertake the purchase. (BT)

Berjaya Food replies Bursa query
In a statement on Bursa yesterday, Berjaya Food Bhd, the operator of the Kenny Rogers Roasters chain of restaurants, is not aware of any reason for the unusual market activity in relation to the sharp increase in price and high volume of the company’s shares. In the said announcement, the company re-iterated that it is not aware of any current corporate developments, rumour, or any other possible explanation to account for the unusual market activity. (Bursa Malaysia)

IOI Corp under scrutiny
IOI Corp Bhd, the country’s second biggest listed palm-oil company, is being scrutinised by an industry group following allegations about land disputes and illegal deforestation. IOI was given 28 days to respond to the allegations of land disputes and illegal deforestation. IOI was given 28 days to respond to the allegations, the Roundtable on Sustainable Palm Oil said in a statement on its website. (StarBiz)

Trading in Mamee shares halted from 9am Thursday until 5pm Friday
Trading in the securities of Mamee-Double Decker (M) Bhd securities will be suspended from 9am on Thursday, April until 5pm on Friday, 8 April at the request of the company pending an announcement. Mamee said on Wednesday, 6 April that Bursa Malaysia Securities Berhad had approved its request for suspension of trading in its securities until 5pm on Friday. “The request for suspension is in view of the pending release of an announcement relating to a material corporate exercise,” it said. (Financial Daily)

Perodua: MyVi replacement model launch to be delayed. Perodua would possibly delay the launch of its replacement model for the MyVi due to disruption to the automotive industry supply chain caused by Japan's earthquake and tsunami. (Source: The Edge Financial Daily)

Proton: Closing in on Perodua, gap in vehicle sales narrows. Proton is edging closer to regaining its top spot in the car market, five years after losing that position to Perodua. Sales figures show that the gap in vehicle sales between national carmakers Proton Holdings Bhd and Perusahaan Otomobil Kedua Sdn Bhd (Perodua) is narrowing rapidly. (Source: The Star)

Dijaya: Ventures into hospitality. Dijaya Corp Bhd is planning to build a 50-storey hotel-cum-residential block, W Hotel costing RM750m on a plot of land on Jalan Ampang, where the historical Bok House used to sit. (Source: Business Times)

BHIC: To double order book. Shipbuilder Boustead Heavy Industries Corp Bhd (BHIC) is expecting to at least double its current order book of RM1.2b and beef up its repair and maintenance segment this year. (Source: The Star)