New twist to KLIA2 feud
The feud between Malaysia Airports (MAHB) and AirAsia continued as both parties showed documents to prove their case over the upgrade of KLIA2. AirAsia refuted claims by MAHB that it had asked for a bigger airport and said it should not be blamed for the near doubling of cost to construct KLIA2 to RM3.9bn. AirAsia produced a letter dated November 2009 warning MAHB that the current KLIA2 site was cause of the cost getting more expensive than the planned RM2bn. MAHB said last Tuesday it was building a bigger airport to cater for AirAsia’s bullish passenger growth projections, raising passenger capacity to 45m from 30m. The completion deadline was also delayed by six months to April 2013 because AirAsia wanted a fully-automated baggage handling system (BHS), with the request only made in June. AirAsia denied the BHS claim but MAHB posted a letter to prove otherwise. (StarBiz)
Malaysia Airports (MAHB) has set its headline KPI for 2012. Its targets include achieving EBITDA of RM822m, a ROE of 10.42% and top 5 worldwide ranking for KLIA. The airport operator said it expects to achieve an overall growth of 6.6% in passenger movements in FY12 based on the expected growth of GDP of 5% to 6% and assuming the world economic environment remains reasonably stable. (Bernama)
All nine telecoms players given smaller blocks of 4G spectrum
All the nine telecoms players have again been allocated blocks of the 2.6 Ghz spectrum although in smaller blocks than originally announced. The big winner is newcomer Puncak Semangat SB, controlled by Tan Sri Syed Mokhtar Al-Bukhary, as it got 30 Mhz of the 4G spectrum. 20 Mhz blocks were given to each of the four cellular players (Celcom Axiata, DiGi.Com, Maxis and U Mobile SB) and the three WiMAX players (Packet One SB, REDtone International and YTL Communications). Asiaspace SB still received a 10Mhz block despite having stopped offering WiMAX services. Each of the nine players have until 15 Dec to submit their business plans and will have to raise an irrevocable and irrecoverable bank guarantee of RM2.5m for each 5Mhz of spectrum. (StarBiz)
Proton shares soar on talk of Khazanah divesting stake
It was reported that Khazanah was likely to ask for business proposals from parties interested in its 42.7% stake in Proton, prompting Proton’s share price to rise 24.6%. Sources said Khazanah had approached Sime Darby Motors, the Naza Group, Hyundai-Berjaya SB, DRB-Hicom and UMW Holdings. So far, only DRB-Hicom had expressed some interest in Khazanah’s proposal. Khazanah did not confirm or deny the report, stating it doesn’t comment on market or media speculation, but said it would announce any corporate developments as and when necessary. (StarBiz)
Hiap Teck gets iron ore mining rights in Terengganu
Hiap Teck’s 55% owned Eastern Steel SB has been granted a licence by the Terengganu government to mine iron ore on a 243ha site near Bukit Besi. The mining concession will allow Eastern Steel to mine the area, which has estimated reserves of 40m to 50m tonnes of iron ore, until the end of its mining life. The mining concession will help Eastern Steel secure the supply of iron ore for the integrated steel complex it is building in Kemaman to produce steel slab. (Financial Daily)
Deepak Jaikishan acquires equity interest in Envair
Carpet Raya SB director Deepak Jaikishan has emerged as a substantial shareholder in Envair by acquiring a 5.06% equity interest on 2 Dec. He forked out RM1.32m for the 6m Envair shares at RM0.22 apiece. His stake makes him the group’s seventh largest shareholder. The RM0.22 transacted price is a 24% discount to the share’s RM0.29 closing price on 2 Dec. Envair’s core business activities include air filtration systems, manufacturing and liquid filtration systems. (Financial Daily)
Bangkok Bank to move HQ for RM110m
Bangkok Bank has bought property units worth RM110m from Berjaya Corp in its development at Jalan Ampang. The bank purchased 8 levels of corporate suites and commercial spaces on the ground and mezzanine floors of the Berjaya Central Park development. The 8 levels of corporate suites with a total of 99,950 sq ft will house Bangkok Bank’s new headquarters, while the ground and mezzanine floors covering 6,000 sq ft will house the banking halls. (Financial Daily)
Bangkok Bank is mulling the sale of its present headquarters at Jalan Tun H.S. Lee here once it moves to new premises in Berjaya Central Park, at the junction of Jalan Sultan Ismail and Jalan Ampang, by 2014. Executive director and chief executive officer Robert Loke did not rule out the possibility of selling the building, which it has occupied since it came to Malaysia 52 years ago. He said the bank had invested over RM100m to become the anchor owner of Berjaya Central Park, located next to Concorde Hotel. The building is expected to be completed by the first quarter of 2014. (BT)
PNB may be paying out lucrative bonuses and stock options to SP Setia's top management staff in order to persuade them to stay on with the company following an offer by PNB to increase its stake in the property developer. A source with knowledge of the proposed arrangement said that this would involve the payout of hefty bonuses and attractive stock options aimed at ensuring the management team stay put. There had been fears expressed earlier that PNB's move to take control of SP Setia might lead to an exodus of the company's management staff. (Starbiz)
Seeburger, a US-based business integration solutions provider, has appointed Time Engineering as its first reseller and implementation partner in Malaysia. "Malaysia plays a pivotal role in the Southeast Asian economy, and we have been aggressively searching for local partners with the right mix of offerings to pair with our technologies." (BT)
Hua Yang's biggest lakeside township development in Perak, Bandar Universiti Seri Iskandar, will be offering more affordable houses by building 137 units of the Tropika and Casa Series, which are essentially double-storey terrace houses. "There will also be the Seri Idaman and Seri Andaman series, priced from RM130,000 with each unit spanning 74.4 sq m. Overall, a total of 909 units will be built," said chief executive Ho Wen Yan said. (BT)
Toshiba Corp has allocated RM268m for a five- year investment in its new subsidiary Toshiba Transmission & Distribution Systems Asia Sdn Bhd (TTDA). TTDA is positioned as a global supply hub, responsible for research and development and manufacture of medium-voltage T&D products, with capabilities in engineering, procurement and construction of T&D systems that it can deploy across the region. TTDA would also expand in two areas now attracting considerable attention, namely photovoltaic solar power generation and smart grids. (Bernama)
Bursa Malaysia yesterday issued an unusual market activity (UMA) query to Sanichi Technology following a sharp increase in the price and high trading volume in the company‟s shares. The company said it was not aware of any corporate developments in the company and its subsidiaries. (Bernama)
TRC Synergy has won a RM38.08m contract from Putrajaya Holdings to develop a total of 100 houses in Precinct 14, Putrajaya. (Malaysian Reserve)
Aberdeen Asset Management has been slowly nibbling at shares of conglomerate Oriental Holdings and controls about 7.19% equity interest in the company. At end March this year, the fund had about 6.14% of Oriental shares. At the same time, the EPF has been paring down its stake in the company. In July 2012, EPF‟s holdings stood at 9.46% but down to 7.13% as at November 30. (Financial Daily)
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