Friday, January 11, 2013

20130111 1112 Malaysia Corporate Related News.

RHB Capital: "Still hopeful" of acquiring a stake in Indonesia's PT Bank Mestika Dharma. RHB Capital Bhd (RHB Cap) is "still hopeful" of acquiring a stake in Indonesia's PT Bank Mestika Dharma and will comply with the 40% foreign ownership requirement, according to chairman Tan Sri Azlan Zainol. "We play by the rules, and if the rules say that at the moment foreign ownership is limited to 40%, then we will take 40%," he told StarBiz in an interview. (Source: The Star)

MISC: VTTI to invest MYR1b more in Tanjung Bin oil terminal. VTTI B.V, an equal joint-venture company between MISC Bhd and Vitol Group, will invest another MYR1b or so for the second phase of development of its ATT Tanjung Bin (ATB) oil storage terminal in Tanjung Bin, Johor. VTTI chairman Datuk Kho Hui Meng said this phase of development would double the capacity to more than 1.6m m2 of oil product storage. (Source: The Star)

Oil & Gas: 5 O&G firms' investments for PIPC approved The Government has approved multi-billion ringgit investments from 5 oil and gas-related (O&G) companies for the Johor's Pengerang Integrated Petroleum Complex (PIPC). International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the approval was given to them under the Global Incentives for Trading (GIFT) scheme that aimed to turn Malaysia into an international hub for the O&G industry. (Source: The Star)

Automotive: Mercedes powers to record 2012 sales. Mercedes-Benz Malaysia had another record-breaking achievement in 2012, registering a 9% rise in sales to 8,085 units of passenger cars and commercial vehicles from 7,400 units previously. Mercedes-Benz's core C and E-Class maintained their momentum, accounting for almost 88% of total car sales. Deliveries of the C-Class were up 18% to 2,651 units, while the E-Class kept pace with 2,453 units delivered, up from 2,276 from before. (Source: Business Times)

West Coast Expressway to cost RM6bn, down from RM7bn
The West Coast Expressway is estimated to cost RM6bn, down from earlier estimates of RM7.07bn, and its concession period has been agreed at 50 years with a 10-year extension option. The construction of the expressway will take five years to complete while the 10-year extension for the concession will only kick in should its agreed targeted internal rate of return (IRR) for the project be not achieved. The Government will provide a loan at a 4% p.a. interest rate. (Malaysian Reserve)

DRB-Hicom denies privatization talk
DRB-Hicom has not been approached or notified by controlling shareholder Tan Sri Syed Mokhtar Al-Bukhary of any plans to take the company private. The company said that the listing of the Proton distribution business to unlock the values of the merged entity is one of the possible scenarios but is not part of a plan to de-list DRB-Hicom. (Financial Daily)

Takaso Resources may indirectly win RM1.2bn military contract
Takaso Resources may indirectly win a military vehicles supply job contract worth RM1.2bn. Its partner, Pesaka Astana (M) SB, secured a contract from the Ministry of Defence to supply 300 vehicles, each of which will cost RM400,000, an industry source said. Takaso Resources had on 4 Jan entered into a memorandum of collaboration with Pesaka Astana “to negotiate further on project collaboration”. Takaso later said on 7 Jan that there were three letters of award and that the company and Pesaka Astana “wish to start their collaboration”. (Malaysian Reserve)

MAHB-YTL partnership?
Malaysia Airports (MAHB) is believed to be in preliminary talks with YTL Corp to set up a consortium to bid for the GBP1bn London third hub known as Stansted Airport. Sources said MAHB would likely take the airport management and operation role, while YTL would take up the role of the developer in and around the airport area. Two other bidders that were expected to submit their bids by the final 14 Jan deadline were Manchester Airports Group and Macquarie Group. (StarBiz)

HSL wins RM49m Samalaju infrastructure job
Hock Seng Lee (HSL) has secured an infrastructure project worth RM48.9m at the Samalaju Industrial Park in Bintulu. The scope of works includes earthworks, drainage works, pavement and related external works for a major road of almost 5km. The road would serve the expanding industrial park and is due to be completed in 3Q2014. (Financial Daily)

AirAsia plans to launch Indian airline
AirAsia plans to launch an Indian airline in partnership with a local promoter, Videocon Group. AirAsia was exploring options to set up a company that would be majority-owned by an Indian promoter. Videocon confirmed that they had been approached by AirAsia. Videocon’s core business areas are consumer electronics and home appliances. (StarBiz)

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