20120713 1023 Malaysia Corporate Related News.

IHH Healthcare Bhd's institutional price has been fixed at RM2.80/share following the completion of the bookbuilding under the global institutional tranche. IHH said on Thursday the final retail price and cornerstone price were fixed at RM2.80 per share. This was RM0.05 below the indicative price of RM2.85/share. IHH offered 2.23bn shares under its dual listing on Bursa Malaysia and Singapore Exchange. The IPO entailed a 1.8bn public issue by IHH and an offer for sale of 434.6m shares by major shareholder Khazanah Nasional Bhd.Of the combined 2.23bn shares, 1.39bn were for cornerstone investors and 498m for local and foreign institutional investors including those approved by the Ministry of International Trade and Industry (MITI). (Starbiz)

The Royal Bank of Scotland (RBS) has excluded its India operations from an earlier sale and purchase agreement for various Asia Pacific cash equities and associated investment banking businesses to the CIMB Group. "This termination of the proposed sale of RBS' cash equities, equity capital markets and M&A corporate finance business in India is due to an unexpected legal issue arising in connection with the sale of the Indian businesses by RBS," said CIMB Group on Thursday. Group CEO of CIMB Group, Datuk Seri Nazir Razak said the group remained committed to having an Indian component to its Asia Pacific Investment banking platform. "We see this as a temporary delay in our Indian build-up as we will now have to follow the same process as Korea, which was excluded from the RBS transaction from the outset, and proceed to establish our own operation by applying for a new licence or purchasing an entity with an existing licence," he said. (StarBiz)

Singapore’s CapitaLand sold its 20.7% stake in United Malayan Land Bhd (UMLand) to a private firm, Seleksi Juang Sdn Bhd, that is now making a takeover offer for the rest of UMLand. It intends to take UMLand private at RM2.50/share, a 5.9% premium to its last traded share price of RM2.36. It bought the stake from CapitaLand also at RM2.50 a share, or RM156.4m in total, in a direct business transaction yesterday. Seleksi Juang’s shareholders include Datuk Ng Eng Tee, who is UMLand’s major shareholder and deputy chairman and executive director. (BT)

WCT Bhd yesterday landed a RM391m contract for the proposed fourth lane widening of the North-South Highway along the Nilai-Seremban stretch. WCT said the contract sum for Package E - between Nilai and Seremban - included a provisional sum of RM10m and prime cost sum of RM216m respectively. The works are expected to be completed by December 2014. (Financial Daily)

Muhibbah Engineering (M) Bhd plans to bid for sub-contracting works for the A$43bn (RM136.7bn) Gorgon LNG jetty and marine structure project in Australia, a key official said. The engineering and construction group has won two contracts for the project. It won a RM40m contract in Mar-2010, and the second job, valued at RM150m, in early 2011. The contracts are to pre-assemble heavy lifting facility and tug pen breakwater caissons and preparation of shipping barges for the project. "Since most of the main packages for the Gorgon project has been awarded, we are now looking at the possibility of securing sub-contracting jobs, mainly structural steel fabrication work," said Muhibbah Engineering's business development director Mac Chung Jin. In Dec-2011, Muhibbah Engineering's JV company, Monadelphous Muhibbah Marine joint venture, was awarded a RM1.05bn contract to construct the approach jetty and ship berth in Queensland, Australia. The joint venture is a 50:50 venture with Australian-listed Monadelphous Group Ltd's wholly owned unit Monadelphous Engineering Pty Ltd. (BT)

The Singaporean Casino Regulatory Authority (CRA) is said to be probing Resorts World Sentosa (RWS) over alleged reimbursements of casino entry levies. Singapore's TODAY newspaper reported that the investigation which started almost a year ago allegedly revealed "hundreds of illegal reimbursements". "The probe is believed to have prompted the integrated resort to suspend several senior executives including one senior vice-president," the report said. (Starbiz)

Lembaga Tabung Haji (LTH) is well placed to disburse higher dividends this year to depositors following attractive return on investments coupled with proceeds from the sale of its stake in a plantation company in Indonesia. "Last year, we declared a 6% dividend, (and) hopefully, this year, we should be able to maintain our performance," says CEO Datuk Ismee Ismail. As of Feb, there were 6.9m depositors in LTH. On the RM3bn proposed sale of its 95 per cent stake in PT TH Indo Plantations, Ismee said the buyer has been given until the end of August to complete the due diligence process.(BT)

ST Aerospace and AirAsia have signed a 10-year agreement for component repair management maintenance-by-the-hour (MBH) for its A320 aircraft. The agreement is worth US$80m. ST Aerospace is currently supporting AirAsia on an existing MBH programme for 100 aircraft. With this contract, ST Aerospace will effectively support 175 of AirAsia’s A320 aircraft. (Bernama)

Malaysia Airlines was awarded an exclusive top-tier five-star rating at the Skytrax World Airline Awards. The airline also picked up World’s Best Airline Cabin Crew and Best Airline Signature Dish for its satay, served in business and first-class cabins. (The Star)

The Malaysian Rubber Export Promotion Council (MREPC) expects natural rubber prices to hover at a lower range for the rest of the year in anticipation that a still weak global economic backdrop will rub demand for commodities. The MREPC said that natural rubber latex prices will average RM6.0-7.0/kg in the 2H12 compared with RM7.00-7.85/kg in the 1H12. This compares with an average of RM8.90/kg in 2011. The council said that this will be a positive for glove manufacturers given that natural latex accounts for 60% of total costs. (Financial Daily)

The Faculty of Behavioural Sciences at HELP University launched the Maser of Applied Psychology in Coaching, a course jointly developed with the Corporate Coach Academy Of Malaysia. HELP University has one of the largest undergraduate psychology programmes in Asia with over 1,100 full-time students majoring in psychology. (Financial Daily)

Packet One Networks (P1) broadband services are now available in Sabah, with the company aiming to provide up to 80% of household coverage in Kota Kinabalu by year-end. P1, which has over 400,000 subscribers currently, has said it will commit RM30m to provide East Malaysians with 4G broadband service. (The Sun)

Plantation outfit TDM Bhd is working hard to raise its image among local investors, who may have veered away due to the counter's legacy issues, according to CEO Badrul Hisham Mahari. "The image of the company was not very positive in the past, and this is a newly improved company. We have been changing things over the past five to six years, and this will eventually get through to the public," said Badrul. (Financial Daily)

KKB Engineering has received a letter of intent for the supply of steel pipe piles worth RM28m. The job is scheduled to commence within 3Q this year with supply to be completed in 1Q13. (Financial Daily)

The ninth generation Honda Civic made its local debut with distributor Honda Malaysia expecting sales of over 6,000 units in its first year. The sales target will help Honda Malaysia achieve a leading 40% share of the non-national mid-size cars segment. The company is confident that with an impressive stable of hybrid models, it can cross the 10,000 units sales mark for such green vehicles in a year's time. (BT)

Mass Rapid Transit (MRT Corp) has awarded four more work packages worth RM767m to TSR Bina SB, IJM Construction SB and another construction outfit for the Sungai Buloh-Kajang (SBK) line. In a statement, MRT Corp said the packages were awarded following a meeting of the One-Stop Procurement Committee (OSTC) in Putrajaya, which was chaired by Finance Minister II Datuk Seri Ahmad Husni Mohamad Hanadzlah. Out of RM767m, TSR Bina's work package is worth RM329.9m, Naim Engineering’s work package worth RM208.2m and IJM Construction’s work package worth RM228.9m. (StarBiz)

Starhill REIT distributes 3.62 sen
Starhill REIT announced a final income distribution of 3.62 sen per unit for the six-month period from 1 Jan till 30 June. The total payout amount translates to RM48m. For the six-months ended 31 Dec, Starhill REIT had paid out a 4.01 sen interim dividend. In total, its income distribution for its financial year ended 30 June 2012 stands at 7.63 sen per unit, compared to 6.49 sen per unit in the previous year. “The completion this financial year of the rebranding exercise to transform the trust into a pure-play hospitality REIT marks a turning point. Starhill REIT’s property portfolio has now been fully rationalised to focus on prime, yield-accretive hotel and hospitality-related assets. This has enabled us to achieve a 32% increase in the total income distribution from the trust to RM101.1m,” Tan Sri Francis Yeoh said in a statement. (StarBiz)