AirAsia wants SLA for KLIA2
AirAsia wants MAHB to implement its requests. If these requests are not implemented, its operations at the new low-cost carrier terminal (LCCT), KLIA2 will be negatively impacted, the company says. AirAsia commercial director Jasmine Lee wants MAHB to provide a service level agreement which should incorporate aeronautical charges at KLIA2. MAHB currently has conditions of use (CoU) agreements with its airline partners and ground handlers at KLIA. The CoU provides guidance on the use of airport facilities, particularly with regards to the safe and secure use of the airport, as well as a schedule of airport charges. (Financial Daily)
Proton says unaware of any corporate proposals
The rally in the share price of national automaker Proton Holdings that started last Thursday came to a halt yesterday, as its top management clarified to Bursa Malaysia that it is not aware of any reason for the unusual market activity in its shares. The stock started its upward surge last Thursday after rumors re-emerged that its largest shareholder Khazanah was inviting parties to bid for part or all of its stake in the group. (Financial Daily)
Ekovest-MRCB JV gets River of Life project
Ekovest-MRCB JV SB, a 60:40-joint venture between Ekovest and MRCB has finally been appointed the project delivery partner of the RM2.2bn Klang river rehabilitation and beautification project known as the River of Life project. The JV first obtained the letter of intent from the government for the job back in February. (Financial Daily)
Pudu Jail project to include bumi firms
The Ministry of Finance (MoF) has ordered UDA Holdings to come up with a new master plan for the redevelopment of its Pudu Jail land to ensure a higher level of bumiputera participation. UDA chairman Datuk Nur Jazlan Mohamed yesterday said MoF has also directed that the city centre land be divided into three parcels with two of the plots given to bumiputera developers. He added that UDA, as the project’s master developer, will have to find a suitable way to split the 19.8 acre site three ways. (Financial Daily)
GuocoLand buys Cheras land for RM108m
GuocoLand us buying nine land parcels measuring 18.9 hectares in Cheras for RM107.87m, or RM53 per sq ft to be satisfied via cash. The property developer said its wholly-owned subsidiary Ace Acres SB had entered into a conditional sale and purchase agreement with Bonds Corp SB to purchase the nine freehold land parcels. (Financial Daily)
Maxcorp boss seeks to take over Wijaya
Former army Major Anuar Adam is gunning for control of Wijaya Baru Global. Anuar is understood to be backed by a group of powerful Indonesia businessmen. The low-profile Adam, who helms privately held Maxcorp Group of companies, aims to buy out Datuk Tiong King Sing in a deal that values the Sarawakian tycoon’s interest in Wijaya at about RM1.10 per share. (BT)
KNM subscribes to 10m RCPS in GreenTech for RM10m Yesterday, KNM Group Bhd announced that its wholly owned subsidiary, KNM Renewable Energy Sdn Bhd (“KNMRE”), entered into a Share Subscription Agreement with Green Energy and Technology Sdn Bhd (“GreenTech”), a subsidiary of Octagon Consolidatd Bhd (“Octagon”), to subscribe for a total of 10m 8% Redeemable Convertible Preference Shares (“RCPS”) of RM0.01 each in GreenTech, for RM10m in total, or RM1.00 per RCPS. Tenure of the RCPS is 3 years and can be extended for another 2 years subjected to a mutual consent of both parties. Upon redemption, KNMRE will own at least 51% stake in GreenTech. (Bursa Announcement)
Guocoland acquires 46.72 acres of land for RM107.8m Guocoland (Malaysia) Bhd’s indirect wholly owned subsidiary is acquiring 46.72 acres of land worth RM107.8m in the Cheras locality as part of its land bank expansion plan for future developments. Its indirect wholly owned subsidiary Ace Acres Sdn Bhd had entered into a sales and purchase agreement with Bond Corporation Sdn Bhd to acquire nine parcels of land located in Cheras and Mukim Petaling. (The Edge)
Bank Islam 9-month profit up 41.7% to RM341.9m Bank Islam Malaysia Bhd's profit before zakat and tax increased 41.7% to RM341.9m in the first nine months of FY11, boosted by a better product mix and robust financing growth. Its revenue for 9M11 was up by 12.1% year on year to RM1.2b despite a slower expansion rate of 9.4% for fund based income a year ago. (The Edge)
CBIP unit gets RM17.88m contract from Felda CB Industrial Product Holding Bhd has secured a RM17.88m contract from Felda Palm Industries Sdn Bhd for the conversion of the Trolak palm oil mill in Sungkai, Perak. It’s wholly owned subsidiary Modipalm Engineering Sdn Bhd had accepted the letter of award to supply, design, fabricate, delivery to site, construction, erection, installation and complete with civil, mechanical and electrical works for the mill. (The Edge)
MK Land: Indian project contribution from 2013 MK Land Holdings Bhd expects its affordable homes project in Bangalore in India to contribute to the group's earnings beginning its financial year 2013. The project, with a gross development value (GDV) of more than RM3b, is targeted to take off after the company's current financial year. (Business Times)
Hiap Teck unit gets iron ore mining rights in Terengganu Hiap Teck Venture Bhd’s 55% owned Eastern Steel Sdn Bhd 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 Star)
Lion Corp proposes to issue shares, undertake capitalreconstruction move Lion Corp Bhd, an investment holding company primarily engaged in the manufacturing and sale of steel, has proposed to issue up to 950m ordinary shares pursuant to a proposed settlement scheme, undertake a capital reconstruction exercise and provide financial assistance in relation to the issuance of new shares. (The Star)
1 Utopia gets UMA query from Bursa 1 Utopia Bhd, in reply to a Bursa Malaysia query, said it was not aware of any rumour, report or possible explainations for the unusual market activity in its shares. The counter rose 20% or two sen to close at 12 sen. (The Star)
Trading in Baneng to be suspended Trading in the securities of Baneng Holdings Bhd will be suspended from Dec 14. This is to make way for the delisting of the company on Dec 16, after it failed to submit its regulation plan to the Securities Commission or Bursa Malaysia before the stipulated deadline. The PN17 company, however, can still appeal to Bursa against the delisting at the latest by Dec 13. (The Star)
The government is open to raising quotas to generate renewable power (RE) if consumers are willing to pay another 1% RE levy on top of the current 1% in the electricity bills. Starting this month, consumers in Peninsular Malaysia and Sabah, whose electricity bills exceed RM77, will start paying the 1% levy to subsidise RE producers. Energy, Green Technology and Water Ministry secretary-general Datuk Loo Took Gee estimates Sustainable Energy Development Authority Malaysia (Seda) to collect up to RM250m in levy by the end-2012. Due to limited funds, the feed-in tariff (FiT) quota allocation for RE producers is awarded on a first-come, first-serve basis. This prompted a rush in online applications to Seda. Since Dec 1, applications for the FiT allocation under the categories of biomass and solar photovoltaic (PV) renewable energy projects were fully taken up. "There's so much interest in biomass and solar PV," said Seda COO Ali Askar Sher Mohamad. Asked if the government may raise the quotas and allow for more RE producers to supply to the national grid, Loo said: "It all depends on the funding. If (heavy energy) consumers (in Peninsular Malaysia and Sabah) are willing to pay an addition 1 per cent (to the current 1 per cent RE levy on their electricity bills), we're open to raising the quotas." (BT)
SP Setia made its way to the English Premier League when its advertisements were spotted in a match featuring Arsenal. Taking out an advertisement in the Wigan Athletic-Arsenal match last Saturday, the company and its website logos were prominently displayed several times on the stadium's digital advertising board in Wigan's homeground DW Stadium during the match. "This is the first time a Malaysian property developer has ever been featured on the EPL advertising space," the group said. According to the group, more advertisements were being lined up for upcoming games featuring top-billed clubs including Manchester United, Manchester City, Chelsea, Liverpool and Arsenal. (Star)
Petronas has terminated the services of the company managing its controversial Prince Court Medical Centre (PCMC). Sources said the contract with Vamed Healthcare Services Sdn Bhd was ended on November 30, although the initial contract was believed to be until March 2014. Vamed, an international healthcare group, was managing PCMC in a partnership with the Medical University of Vienna. The hospital, owned by Petronas Hartabina Sdn Bhd, has faced much criticisms in recent years with critics pointing to the high cost in building and equipping it. (BT)
Parkson Holdings Bhd which secures most of its revenue in China, plans to enter new markets in South-East Asia to tap the region's growing affluence. The retailer with 102 outlets in China, Malaysia, Vietnam and Indonesia viewed Myanmar, Thailand and the Philippines as potential markets, said Alfred Cheng, MD of the units listed in Hong Kong and Singapore. Parkson planned to open 24 more stores in Asia by the end of next year, followed by its first in Cambodia in the first half of 2013, he said. “The Indochina region, as a whole, has about 160m people. That's where we want to be.” (Bloomberg)
Trading in the securities of Baneng Holdings Bhd will be suspended with effect from Dec 14 as it has failed to submit its regularisation plan to the Securities Commission for approval within the stipulated timeframe. (BT)
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