20110419 0949 Malaysia Corporate Related News.

  KLCI chart reading :
correction range bound little upside biased.

Maybank: Gets approval to raise USD2b, Bio-Xcell gets funding from Maybank. Malayan Banking Berhad (Maybank) has obtained approval from the Securities Commission (SC) to establish a multi currency medium-term notes (MTN) programme of up to USD2b. Separately, Maybank and Malaysian Bio-Xcell Sdn Bhd (Bio-XCell) has signed an agreement for a RM250m Commodity Murabahah Term Financing - Islamic Facility (CMTF-i). (Source: Bursa Malaysia, The Star)

Axiata: Celcom signs fiberisation deal with Sacofa. Celcom Axiata Bhd signed a RM168m fiberisation leasing agreement with Sarawak-based Sacofa Sdn Bhd. With the completion of this project, Sarawakians will be able to enjoy enhanced services such as high-definition voice and video plus high-speed browsing with Celcom. (Source: The Star)

Affin: To convert Indonesia's Bank Ina into Islamic lender. Indonesia's conventional bank PT Bank Ina Perdana, which is being acquired by Affin Holdings Bhd will be converted into an Islamic bank - a process that will likely take two years. (Source: Business Times)

Construction: CMC, UK partner may win RM700m LRT job. CMC Engineering Sdn Bhd and UK's Colas (CMC-Colas) may win a contract worth some RM700m for electro-mechanical (E&M) system for the Kelana Jaya light rail transit (LRT) extension line. Tenders closed recently and Prasarana may award the contract by early May. (Source: Business Times)

Autos: Vehicle sales up 12.7% in March. Total vehicle sales surged 12.7% to 63,265 units in March 2011 from 56,139 units a year earlier due to a rush for deliveries and invoicing by companies that have their financial year ending in March. (Source: The Star)

Mining: Indonesian tin miner to list on Bursa Malaysia. Malaysia Smelting Corp Bhd (MSC) is proposing to list its Indonesian unit, involved in tin mining, on Bursa Malaysia's Ace Market. (Source: The Star)

Celcom in RM168m deal to push fibre-optic usage
Celcom Axiata will invest RM168m to enable faster transmission of data through its base stations. Celcom had struck a deal with Sarawak’s Sacofa for a 10-year fiberisation leasing agreement which will see all of Celcom’s node-b and base stations in Sarawak use fibre optics. This will provide trunk capacity throughout the state as well as provide cross-ocean submarine capacity. The infrastructure is set for completion within two years’ time. (Malaysian Reserve)

Three foreign firms pump in RM500m in biotech push
Malaysia has secured three foreign investors who have pumped in some RM500m to set up their manufacturing facilities as part of the country’s push for a regional biotechnology hub. Bio-XCell SB, which develops the Bio- XCell park within Iskandar Malaysia, has signed up India’s Biocon, France’s METabolic Explorer and US-based Glycos Biotechnologies as key tenants. The three investors will occupy more than 100 acres. Bio-XCell park’s first phase is said to cost as much as RM950m to develop. With RM500m in the form of foreign investment and RM250m debt, the remaining RM200m will be funded by shareholders’ equity. (FinancialDaily)

Vehicle sales at all-time month high
Total vehicle sales surged to an all-time month high of 12.7% to 63,265 units in March 2011 from 56,139 units a year earlier due to a rush for deliveries and invoicing by companies that have their financial year ending in March. YTD March 2011 sales volume increased by 7.5% y-o-y, up from 4.3% as at YTD February 2011. (StarBiz)

28 April decision on EON Capital legal tussle
The long-drawn legal tussle involving directors and shareholders of EON Capital and its single largest shareholder Primus Pacific Partners may see some light soon, with a court decision expected on 28 April. Yesterday was the last day for counsels from both sides to present their oral submissions before the decision is made. The decision on the case, well into its tenth month, will be delivered at the Penang High Court (StarBiz)