20110413 1141 Malaysia Corporate Related News.

 KLCI chart reading :
correction range bound upside biased.

Malaysian pension fund EPF says evaluating Glencore IPO subscription
KUALA LUMPUR, April 12 (Reuters) - Malaysia's Employees Provident Fund (EPF), has been approached to subscribe to the $10 billion-plus initial public offering of commodities giant Glencore, a senior official from the country's largest pension fund said on Tuesday.
Glencore is expected to kick off the much-anticipated listing this week in what could be the largest to-date in London and one of the largest in Europe.

Felda to list sugar business by July
Felda Global Ventures Holdings SB will list its sugar business on the Main Market of Bursa Malaysia by July. This will be the first business unit within the Federal Land and Development Authority Group (Felda) to be listed, Prime Minister Datuk Seri Najib Razak said in his speech at the Invest Malaysia 2011 forum yesterday. Quoting sources, Reuters had reported on Monday that the listing of its sugar business would raise about USD215mn (RM651mn) for Felda Group, which would sell about 25% to 30% of its stake in Malaysian Sugar Manufacturing Co (MSM). (Financial Daily)

CMP2 to further unlock value
Capital Market Masterplan Two (CMP2), the successor of CMP1 that was launched a decade ago, aims to further unlock the potential of the capital market estimated to reach RM5.8 trn in value over the next 10 years from the current RM2trn Internationalisation was one of the key priorities of CMP2, which sets to shift focus on Islamic finance from serving domestic needs towards tapping growth opportunities from intermediating international investment and corporate transactions. (Starbiz)

RM30bn sukuk planned for MRT
Malaysia plans to sell as much as RM20bn Islamic bonds under a programme to help finance a mass-transit railway in Kula Lumpur, a government official said. A special financing vehicle would be formed by the Government to raise funds which would be used for the country’s biggest infrastructure project to date, said the official, who couldn’t be named as details of the sale have yet to be finalized.(StarBiz)

Press Metal, partners sign deal with Sarawak Energy
Press Metal Bhd and three foreign companies, which together plan to invest some RM9.5bn in energy-intensive industries in Samalaju Industrial Park, Bintulu, have signed separate power purchase agreement (PPA) term sheet with Sarawak Energy Bhd (SEB).SEB’s chief executive officer Torstein Dale Sjotvei said Press Metal and the three companies-OM Materials, Asia Minerals Ltd and Tokuyama Corp- would require a long term supply of 1,300MW to power their plants.(StarBiz)

Favelle units win jobs worth RM90mn
Crane construction company Favelle Favco Bhd said its two wholly-owned units received four contracts in total valued at RM89.5mn to supply offshore cranes. In a Bursa Malaysia filing yesterday, it said that units Favelle Favco Cranes (M) Sdn Bhd and Favelle Favco Cranes Pte Ltd received purchase orders or letter of intents in the months of March and April from customers Keppel Fels Ltd, Aristo Oil International Services L.L.C, Perunding Ranhill Worley-Muhibbah Consortium, and Cosco (Nantong) Shipyard Co Ltd .(StarBiz)

BToto to sell half its NFO?
The gaming sector is in the spotlight once again, with the focus on Berjaya Sorts Toto Bhd (BToto). According to a Reuters report yesterday, tycoon Tan Sri Vincent Tan is mulling the sale of a 49% stake in BToto’s unlisted numbers forecast operator (NFO) for about USD 1bn (RM3.03bn) Quoting sources, Reuters said Citigroup Inc was hired as the adviser for the deal, which would include the sale of the NFO’s debt, to two private equity firms believes to be Carlyle Group and Providence Equity Partners.(Financial Daily)

Maybank says seeking BII divestment exetension
Malaysia’s biggest lender by assets Malayan Banking Bhd (Maybank) is presently in discussions with Indonesian regulators to extend a deadline to reduce its stake in Bank Internasional Indonesia (BII), its chief executive officer said yesterday. Maybank was given until end of June to cut its stake in BII to 80% from 97% currently. It has so far managed to sell 0.5% of its stake in the open market. (Financial Daily)

IRDA: MRT proposed for Iskandar Malaysia. A plan to build a 500km mass rapid transit (MRT) system has been proposed to improve the connectivity within Iskandar Malaysia, according to Iskandar Regional Development Authority (IRDA). The MRT project will be developed in five or six phases. The first phase is expected to be completed by 2020. The announcement will be made by the Prime Minister if the proposal is accepted. (Source: The Star)

CIMB: Datuk Zainal Abidin named chairman. CIMB Bank Bhd announced the appointment of Datuk Zainal Abidin Putih as chairman of the company, succeeding Tan Sri Haidar Mohamed Nor, who retired at the Banks Annual General Meeting. Zainal has been a director of CIMB Bank since July 2006 and is also the chairman of its audit committee. (Source: Business Times)

Xinhua: To make KL regional HQ. China's state media Xinhua News Agency plans to set up its Asean editorial hub in Malaysia this year and a formal announcement will be made in due course, said its Asia-Pacific president and editor-in-chief Ju Mengjun. Xinhua News Agency has seven regional hubs in the world with over 130 overseas bureaus, of which 27 are located in Asia Pacific. It has representative offices in most Asean countries at present. (Source: The Star)