KLCI chart reading :
pullback correction little upside biased.
Aeon: To ink 9-year deal with 1Utama owner. Aeon Co (M) Bhd, which has managed the old wing of the 1Utama Shopping Complex for 15 years, is expected to sign a fixed nine-year lease agreement with mall's landlord, See Hoy Chan Holdings (SHC). (Source: Business Times)
Integrax: Forms committee. Port operator Integrax Bhd has formed a governance committee consisting of the companys board of directors to oversee all current impending legal matters. (Source: The Star)
Utilities: Acqua SPV makes fair value bid for Selangor water bonds. Acqua SPV Bhd, a special-purpose vehicle set up by Pengurusan Aset Air Bhd (PAAB), has made a firm offer to take over Selangor water bonds. (Source: The Star)
PAAB to acquire water bonds
The Selangor water impasse appears to have finally been broken. Syarikat Pengurusan Aset Air Bhd (PAAB) will acquire the securities issued by the Selangor state water concessionaires thorugh its wholly owned subsidiary Acqua SPV Bhd. The conditional offer amounting to RM6.5bn would see Acqua SPVE paying the settlement value for the securities based on the purchase yield to maturity, according to sources familiar with the matter. (Financial Daily)
UEM Land surges ahead of inclusion into MSCI index
UEM Land Holdings Bhd’s surges (UEML) share price surged yesterday in heavy trading of over 24.1m shares ahead of the stock’s inclusion into the 30 stock MSCI Malaysia index on 1 June, together with Malaysia Marine and Heavy Engineering Bhd (MMHE) and Malaysian Airports Holdings Bhd (MAHB). UEML rose 7 sen or 2.9% to RM2.81 while volume more than tripled from 6.8m shares on Monday.
RM30bn worth of PPP projects to be developed this year
A total of RM30bn worth of projects under the Public Private Partnership (PPP) are expected to be implemented this year from RM18bn recorded last year, said Prime Minister's Department public private partnership unit director-general Datuk Seri Dr Ali Hamsa .“Among the projects to be implemented are the construction of new toll highways, hospitals and universities' campus branches,” he said at a press conference after the launch of PPP Workshop Series 2 yesterday.(StarBiz)
MFM plans RM140m expansion
Malayan Flour Mills Bhd (MFM) will invest RM140m in 2011 to expand its production of flour and storage capacity in Malaysia to cater to rising demand. Its managing director Teh Wee Chye said the expansion, in both of its plant in Lumut and Pasir Gudang, will cover its milling and storage of raw material. “We are expanding on capacities as we foresee the prospect of increasing consumption,” he told reporters after the company’s AGM in Kuala Lumpur yesterday. (Malaysian Reserve)
Kenanga-ECM Libra merger “just a rumour”
Investment bank ECM Libra Financial Group Bhd dismissed rumors of a possible merger deal with K & N Kenanga Holdings Bhd, which was reported by a business weekly last month citing unnamed sources. “This is just a rumor and speculation,” a spokesperson from ECM Libra told The Malaysian Reserve in Kuala Lumpur yesterday when asked to comment on the issue after its AGM. The board of directors of ECM Libra refused to speak to reporters after the AGM yesterday. (Malaysian Reserve)
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