Penang Port yet to be officially notified of takeover
Penang Port SB (PPSB) has not been officially notified of a takeover by Tan Sri Syed Mokhtar Al-Bukhary, although the northern port operator has been directed by the government to cooperate with a firm linked to the tycoon. It is learnt that PPSB had been shown a letter from the Ministry of Finance by Syed Mokhtar’s key aide Datuk Mohd Sidik Shaik Osman when he visited Penang recently. “While the letter did not officially state that any sale had gone through, PPSB was asked to extend its cooperation to Syed Mokhtar’s vehicle Seaport Terminal (Johore) SB, which is the holding company of Johor Port,” a source told. (BT)
Ananda Krishnan’s Astro All Asia said to mull share sale
Malaysian billionaire Tan Sri T Ananda Krishnan is considering an IPO of the country’s largest pay-television broadcaster, Astro All Asia Networks plc, according to a company official. Astro had been approached by investment bankers about a possible share sale, though substantive discussions have yet to begin, said the official who asked not to be identified as the deliberations are private. (Malaysian Reserve)
UEM Land plans RM18bn Nusajaya West project
UEM Land Holdings will develop a new integrated development called Nusajaya West in Johor with a gross development value of RM18bn, says managing director and CEO Datuk Wan Abdullah Wan Ibrahim. He said the project on 4,500 acres of land will comprise commercial, residential and catalyst projects and will be developed in phases spanning 25 years upon full completion. (Malaysian Reserve)
Bashir hints at retiring from MAHB
Malaysia Airports Holdings (MAHB) MD Tan Sri Bashir Ahmad Abdul Majid yesterday hinted at retiring from the company. “I think I want to have a rest,” he told reporters after the company’s 13th annual general meeting in Sepang. Bashir said it is up to the government to decide on the succession plan. MAHB chairman Tan Sri Datuk Dr Aris Othman, however, wants Bashir to stay until the completion of Kuala Lumpur International Airport 2 (KLIA2). (Malaysian Reserve)
UMLand plans RM1.4bn mixed property developments in Iskandar Malaysia
United Malayan Land (UMLand) has signed a memorandum of understanding with Iskandar Investment to undertake several property projects with an estimated gross development value of RM1.4bn in Medini, Iskandar Malaysia. UMLand COO Lim Eng Kuan said phase one would commence soon, consisting of a commercial development featuring hotel, service apartment and retail buildings. (Malaysian Reserve)
TWSPlant buys more land from parent
Tradewinds Plantation (TWSPlant) has proposed to acquire 60% stake in Retus Plantation SB, a unit owned by TWSPlant’s parent company Tradewinds (M). Retus Plantation and its subsidiary own five oil palm estates in Sibu, Sarawak under a provisional lease of state land measuring 10,436ha. This includes a palm oil mill situated on 16.44ha within Pasai Estate. (Financial Daily)
Crest Builder-Detik Utuh JV bags Dang Wangi project
A joint venture between Crest Builder Holdings’ unit Crest Builder International SB and Detik Utuh SB has won the bid to develop real estate on the site of the Dang Wangi light rapid transit (LRT) station. Government-owned public transport operator Syarikat Prasarana Negara, as the land owner, had earlier called for proposals from interested parties to develop commercial properties at the 2.72-acre Dang Wangi station site. (Financial Daily)
CIMB Group Holdings announced a joint venture between CIMB Strategic Assets, a wholly-owned subsidiary of CIMB Group and The Rohatyn Group (TRG) in respect of their 40% and 60% shareholding respectively, in each of the following entities (i) Capital Advisors Partners Asia, (ii) CapAsia Islamic Infrastructure Fund (General Partner) and (iii) CapAsia ASEAN Infrastructure Fund III (General Partner). The Joint Venture shall jointly sponsor, manage and administer the CapAsia Funds and undertake private equity investments in the infrastructure sector. CapAsia (formerly known as CIMB-Standard Strategic Asset Advisors Sdn Bhd) was set up in 2006 as a 60:40 joint venture between CIMB Group and the Standard Bank Group to jointly sponsor, manage and administer the South East Asian Strategic Assets Fund Limited Partnership. In May 11, CapAsia became a wholly-owned subsidiary of CIMBSA. CapAsia, together with its wholly-owned subsidiary Capital Advisors Partners Asia Pte Ltd, currently manages three funds – SEASAF, the Islamic Infrastructure Fund Limited Partnership and the Asia Infrastructure Fund Limited Partnership, with collective Asset Under Management (“AUM”) of approximately USD500m. TRG, founded in 2002, is a specialised asset management firm based in New York, focused exclusively on investing in emerging markets. TRG is regulated by the U.S. Securities and Exchange Commission and together with its affiliates currently has AUM of approximately USD2.7 bn. (BMSB)
Malayan Banking Bhd (Maybank) is "not specifically" looking at acquiring ING Groep NV„s US$775m (RM2,325m) stake in Thailand‟s TMB Bank Pcl, Maybank‟s chief executive said. Maybank CEO Abdul Wahid Omar also said the lender was still open to various opportunities in Thailand, which has been "a missing piece" in its Southeast Asian strategy. Reuters cited sources as saying that ING was putting its 31% stake in Thailand‟s seventh-largest lender for sale as the Dutch financial services group pushed ahead with Asian divestment. Besides state-owned Korea Development Bank, Maybank was identified as one of the potential suitors for the block. (Reuters)
Bursa Malaysia Bhd plans to come out with a retail bond issue especially for retail investors in 2H12. Its CEO Datuk Tajuddin Atan said the exchange-traded bonds could be bought through brokers just like equities. It would offer stability to retail investors and enable them to have exposure to interest rates, he said. (Bernama)
Tenaga Nasional Bhd which is expected to pay RM300m a year to the Sustainable Energy Development Authority (Seda) for the feed-in-tariff (FiT) will make its first payment next week. The first payment would be for Dec 2011 but it would not be substantial as the FiT had just started. According to law, Tenaga must pay Seda by Apr for the Dec period. The timing difference is mainly because of the collection from Tenaga‟s customers, which are generally given 30 days to pay their bills. (Star Biz)
TNB Janamanjung Sdn Bhd expects revenue to hit RM4bn once the 1GW Manjung 4 coal-fired power plant is ready for commercialization in 1Q15. The first three Manjung power plants can generate revenue of RM3bn when running at full capacity. The scheduled completion date for the engineering, procurement and construction contract is on 31 Mar 2015 and as at 29 Feb 2012, 25.78% of the construction has been completed. (Star Biz)
An affordable housing project in Batu Kawan by state-run Penang Development Corp will create at least 11,800 apartments with GDV of up to RM2.5bn, said Penang Chief Minister Lim Guan Eng. The Bandar Cassia Affordable Housing Scheme will occupy some 200 acres in Batu Kawan, Seberang Perai Selatan, Penang. The three-bedroom units will range between 800 and 1,000 sq ft with prices from RM72,500 to RM220,000 each. Lim said the project is due to commence this year with the final phase slated for completion in 2026. There will eventually be 81 blocks of apartments. (Financial Daily)
Sime Darby Property is on track to achieve a gross sales value (GSV) of RM2.4bn in the current financial year ending June 30, 2012, said managing director Datuk Wahab Maskan. He said the value would be mainly contributed by some 23 property projects under its Lifestyle Collection umbrella. Of the 23 projects, 10 were launched today as the first phase of the Lifestyle Collection series. "The ten projects have a GSV of RM1.2bn and the others, RM1.3bn. "The promise that we gave to our parent company, Sime Darby Bhd, was to register a GSV of more than RM2bn. Wahab, who is also the Chief Operating Officer of Sime Darby said the property arm of the conglomerate, expects its profit to be sustained at between RM400-RM500m for the current financial year. (Bernama)
Capital TV, a 24-hour news TV channel, was launched yesterday as part of HyppTV's lineup. HyppTV is offered by Telekom Malaysia through its Unifi broadband service. (FinancialDaily)
Cypark Resources Bhd is exploring the waste management and renewable energy sector in Myanmar. The company has signed a memorandum of understanding (MoU) with First Myanmar Investment Co Ltd on cooperation in these sectors. The MoU covers the research and development and implementation of pilot projects plus the preparation and submission of full proposals. (BMSB)
Guinness Anchor has acquired Accenture's CAS software platform to replace its existing set-up. The new system will enable the brewer to improve visibility and insights at store level and hence its sales operations. (Malaysian Reserve)
SEG International (SEGi) saw a total of 209.6m shares changed hands in off-market deals yesterday at RM1.71 per share. The shares represented nearly 37.5% of the company's share base of 559.18m shares. Reliable sources said one block of 114.8m shares crossed belonged to Cerahsar Sdn Bhd, the second-largest shareholder with a 20.53% direct stake according to Bloomberg data. "It's still unclear who the buyer of the block of shares is although industry players are speculating that it could be a private equity fund or an institutional fund from the Middle East," a source said. (Starbiz)
Nam Cheong has secured US$36.8m contracts to build three vessels for customers here, including a Norwegian firm. The vessels were scheduled for delivery in the second and third quarters of this year. (BT)
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