20121206 1007 Malaysia Corporate Related News.

Eight gets LTE allocation for broadband speeds in excess of 100Mbps
Eight companies have been allowed access to the 2,600 MHz spectrum band which allows mobile phone users to enjoy long-term evolution (LTE) or 4G services with broadband speeds in excess of 100Mbps. The eight are Celcom Axiata, DiGi, Maxis, Packet One, Puncak Semangat, REDtone, U Mobile and YTL Communications. Malaysian Communications and Multimedia Commission (MCMC) said service providers were expected to enter into smart partnerships and sharing agreements between them which included spectrum and radio access network sharing in order to utilize larger bandwidths, lower the cost of rollout and offer better LTE experience and affordability. (StarBiz)

SP Setia gets another prime tract in KL
SP Setia has bought the parcel of land on which the British High Commission is located in Jalan Ampang for RM294.96m. The price tag was computed at a rate of RM2,200 per sq ft based on land area of about 12,456 sq m. SP Setia plans to undertake an integrated commercial development on the tract, with an estimated GDV of RM1.04bn. (Financial Daily)

Quek to privatize Hong Kong flagship
Tan Sri Quek Leng Chan is likely to privatize his publicly traded Hong Kong flagship, Guoco Group. The company sought a suspension in the trading of its shares. An executive familiar with the company said that “since selling Dao Heng Bank Group to DBS, Guoco has been more of an investment holding company. The privatization could be to make it more nimble.” Guoco Group has a 25.4% stake in Hong Leong Financial Group and 64.98% in Guocoland (M). (Financial Daily)

Bintai Kinden clinches RM214m Singapore job
Bintai Kinden, a mechanical and electrical engineering specialist, has clinched a SGD85.85m (RM214.5m) project from Samsung C&T to undertake improvement works for the Suntec City Convention Centre in Singapore. The company will supply and install mechanical, electrical, plumbing, fire protection, sanitary and gas facilities for the building and is due for completion by 30 Sept 2014. (Financial Daily)

Datasonic gets new MyKad contract
Datasonic has received a letter of award from the Homes Affairs Ministry for the supply of an additional 10m new raw MyKad under a RM180m contract for a two-year duration. The company will supply MyKad made of 100% polycarbonate material with new security features to the National Registration Department. (StarBiz)