20130108 1102 Malaysia Corporate Related News.

Adventa unaware of surge in price, volume
Adventa is unaware of any factors which might have caused the surge in the price and volume of its shares last Friday. It said on Monday there was no corporate development relating to its business and affairs, which had not been previously announced, which could have triggered the unusual market activity of its shares. Adventa said the recent announcement was the entitlement and payment date of the distribution of RM1.70 per share via a special dividend of RM1.30 per share and capital reduction and repayment of 40 sen per share. It also cited its announcement about acquiring shares in PTM Progress Trading SB. (StarBiz)

Scomi Group's oilfield services orderbook hits over RM1.7bn
Scomi Group's oilfield services business has increased to over RM1.7bn with the latest RM380m contract to provide drilling fluids and services. It said the project was the first cooperation between Scomi and Total E&P Indonesie (TEPI) for a three-year mega project starting in July 2013. Recently, it secured a RM93.6m contract in Myanmar and a RM130m contract in Qatar. In total, Scomi has secured RM603.6m in drilling fluids and drilling waste management contracts from major clients for these recent wins. "To-date, the oilfield services has a healthy order book of over RM1.7bn and participated in tenders in excess of RM3.0bn," said Wan Ruzlan, the president of market units for Scomi Oilfields services’ division.(StarBiz)

Brahim's completes buyout of unit, forecasts quantum leap in earnings
Brahim's Holdings expects a quantum leap in net profit and revenue in the current year, to be driven by its wholly-owned subsidiary Brahim's-LSG Sky Chefs Holdings SB (BLSG), says director Datuk Howard Choo. The group yesterday completed the process to buy the remaining 49% stake it does not already own in BLSG from its German partner, LSG Asia GmbH, a company owned by Deutsche Lufthansa AG, in a deal worth RM130m. In a filing to Bursa Malaysia, Brahim's said it also signed a two-year technical assistance agreement with LSG Catering Hong Kong Ltd for electronic data processing as well as cost control and management technics. (BT)

IJM eyes West Coast Expressway jobs
IJM Corp, Malaysia's second biggest expressway operator, is eyeing key packages of the RM5.6bn West Coast Expressway (WCE) project to boost its current order book of over RM3bn. "We are pleased to note that the WCE has been signed by the concessionaire and the government. Going forward, there is a possibility that IJM will enhance its order book by participating in key packages of the WCE. We think tenders for the project will likely be called in the fourth quarter of this year after the financial closure. Construction may commence by year-end," IJM chief executive officer and managing director, Datuk Teh Kean Ming said. (BT)

Sunway wins RM45m Legoland contract
Sunway announced a letter of award worth RM45m by IDR Assets SB to its wholly-owned subsidiary Sunway Construction SB to design and construct a water theme park under the package 11-Legoland Water Theme Park development located in Johor. In an exchange filing yesterday, the construction arm of the property-based conglomerate announced that the project is targeted to be fully completed on or by 30 Sept 2013, with a construction period of nine months. (Malaysian Reserve)

Hua Yang gets RM119m credit facilities
Hua Yang's wholly-owned unit, Bison Holdings SB has secured RM118.5m in credit facilities from an undisclosed local bank, the property developer said in an exchange filing yesterday. The money is meant to partly finance Bison's purchase of five vacant plots of leasehold land measuring 29.2 acres in the district of Petaling, Selangor, from Mentari Hari SB for RM158m. The credit facilities consist of an eight-year term loan facility of RM78.5m and a revolving credit facility of RM40m. (Malaysian Reserve)

Kumpulan Jetson gets UK contract
Kumpulan Jetson's UK subsidiary, Jetson (UK) Ltd, has accepted a letter of award (LoA) for a turnkey project to upgrade and refurbish a 162-room hotel and an additional 135 rooms in London for a total contract value of GBP17.02m (RM82.98m). The hotel is believed to be owned by the Shapadu group, which recently became a substantial shareholder of Kumpulan Jetson with a 8.81% stake. Kumpulan Jetson said the UK company had accepted the LoA from Cranborne Enterprises Ltd to undertake the turnkey project.. The hotel is located at the junction of Kennington Road and Lambeth Road in London, England. (Financial Daily)

Malakoff's aggressive expansion
Malakoff Corp plans to bid for a nine-month power plant in Indonesia and possibly build another coal-fired power plant in Tanjung Bin, Johor, to export electricity to Singapore. The expansion of its electricity generation business in the region is part of the plan by Malaysia's largest independent power producer (IPP) to increase its generation capacity to 10,000MW by 2020 from 5,500MW currently. In a draft exposure prospectus last Friday, Malakoff revealed its plan to expand its capacity in Malaysia to 7,000MW by 2020 from the current 5,200MW. It is already adding another 1,000MW to the existing 2,100MW power plant in Tanjung Bin. (Financial Daily)