Maxis plans RM2.5bn sukuk to fund capex and repay debts
Maxis has proposed a RM2.45bn sukuk issue to fund its capex and repay debts while shareholders could gain from RM320m worth of tax credits the company received from the Government. The issuance will see Maxis’ gearing rise to 0.75x from 0.63x. Maxis also revealed that the Finance Ministry has approved RM320m worth of tax credit under the last mile broadband tax incentives, comprising RM97m for 9MFY11 and RM233m in respect of prior years. (Malaysian Reserve) Please see accompanying report
Uzma Engineering awarded RM350m PCSB contract
Uzma’s wholly-owned subsidiary, Uzma Engineering SB, has been awarded the provision of well testing equipment and services for Petronas’ Drilling Programmes – West Region contract from Petronas Carigali SB (PCSB) valued at approximately RM350m. The oil and gas company said the contract is for a period of five years effective from 1 April 2012 to 31 March 2017. (Malaysian Reserve)
CIMB acquires RBS’ Australian equity arm
CIMB Group has won the bid against China International Capital Corp (CICC) to acquire Royal Bank of Scotland’s (RBS) Australia equity operations for USD50m (RM153m). Staff members were verbally informed yesterday that CIMB had been confirmed as the buyer of the equity arm. (Financial Daily)
TWS Plant disposes of unit for USD25.9m
Tradewinds Plantation (TWS Plant) through its indirect wholly-owned subsidiary Mardec International SB is disposing of its 45% stake in R1 International for USD25.9m (RM79.2m). Mardec, together with two other shareholders of R1, are disposing of in total 90% of the equity interest in R1 to Hainan State Farms Investment and Hainan Rubber Group (S). R1 is principally involved in the trading of natural rubber, latex concentrate and synthetic rubber. (Financial Daily)
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