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PDZ: Tan Sri Halim Saad will likely emerge as the controlling shareholder in loss making container shipping firm by end 2014 and lead its transformation into an oil and gas player.
Sources say that a share transfer deal has been signed between PMB and Halim, but the 30% block held by PMB will be crossed in over three months from Aug 2014.
In early Aug 2014 it was reported that Halim is eyeing the controlling stake in PDZ at a price at least 50% more than the 18 sen per share paid by PMB or 27 sen per share.
PDZ says it was not directly aware of any such developments and its directors and major shareholders were not involved in any negotiations with any party at that juncture.
However PDZ on Aug 21 2014 in response to a media report, says its major shareholder has been approached by several parties which expressed their intention to purchase the stake in the company and discussions are ongoing with the relevant parties with regard to the sale.
It was reported that PDZ has a relatively healthy balance sheet with rm200 million in sales, rm24 million cash balance and rm6 million to rm7 million in borrowings.
It was also reported earlier that Halim will inject several of his O&G outfit into PDZ to further transform the company into an O&G player.
Malton: Its chairman DAtuk Desmond Lim is believed to be streamlining privately owned assets, which could see him inject all properties at PBD in KL into the listed entity.
Sources say Lim, also chairman of the Pavilion REIT, is expected to inject the PBD redevelopment project, which has an estimated GDV of up to rm3 billion into Malton by end 2014.
Sources say the asset injection is likely to be in the form of a share swap, which will result in Lim obtaining more shares in Malton.
The asset injection will be of a bigger plan for Lim to consolidate his PBD assets under Malton and does not discount the possibility of his parking the future office blocks and shopping mall in PBD in the Pavilion REIT, of which he and his wife Tan hold a combined stake of 37.45%.
In March 2014, Lim secured a 2.57ha tract in PBD via Jendela Mayang Sdn Bhd for rm450 million. Lim already owns 3.88ha in PBD via his Impian Ekspresi Sdn Bhd.
With the two parcels, Lim owns about a third of the 18.6ha.
As such Malton, in which Lim has a 37.9% stake is said to be raising money for a multibillion ringgit redevelopment via a share placement exercise.
It was reported that Malton has appointed a broker for the exercise, expected to raise some rm40 million equivalent to a placement price of rm1.10.
Its net asset value per share is rm1.55. Its total borrowing stood at rm397 million.
Rail connectivity will be crucial in connecting Pavilion KL to Pavilion 2 and possibly Lim’s third mall in Bukit Jalil expected to be linked to an MRT line.
The Pavilion in Bukit Jalil will be an integral part of a joint venture between Malton and Ho Hup on a 24.28ha siate with a GDV of rm4 billion. Malton is supposed to develop 20.23ha while Ho Hup will develop the remaining 4.05ha.
Lim could inject the Bukit Jalil Pavilion into the Pavilion REIT once the mall is completed and its rental income stabilizes.
Malton has three projects in the pipeline worth rm7.9 billion at Bukit Jalil, Batu Kawan in Penang and in Pengerang, Johor.
Sources say that a share transfer deal has been signed between PMB and Halim, but the 30% block held by PMB will be crossed in over three months from Aug 2014.
In early Aug 2014 it was reported that Halim is eyeing the controlling stake in PDZ at a price at least 50% more than the 18 sen per share paid by PMB or 27 sen per share.
PDZ says it was not directly aware of any such developments and its directors and major shareholders were not involved in any negotiations with any party at that juncture.
However PDZ on Aug 21 2014 in response to a media report, says its major shareholder has been approached by several parties which expressed their intention to purchase the stake in the company and discussions are ongoing with the relevant parties with regard to the sale.
It was reported that PDZ has a relatively healthy balance sheet with rm200 million in sales, rm24 million cash balance and rm6 million to rm7 million in borrowings.
It was also reported earlier that Halim will inject several of his O&G outfit into PDZ to further transform the company into an O&G player.
Malton: Its chairman DAtuk Desmond Lim is believed to be streamlining privately owned assets, which could see him inject all properties at PBD in KL into the listed entity.
Sources say Lim, also chairman of the Pavilion REIT, is expected to inject the PBD redevelopment project, which has an estimated GDV of up to rm3 billion into Malton by end 2014.
Sources say the asset injection is likely to be in the form of a share swap, which will result in Lim obtaining more shares in Malton.
The asset injection will be of a bigger plan for Lim to consolidate his PBD assets under Malton and does not discount the possibility of his parking the future office blocks and shopping mall in PBD in the Pavilion REIT, of which he and his wife Tan hold a combined stake of 37.45%.
In March 2014, Lim secured a 2.57ha tract in PBD via Jendela Mayang Sdn Bhd for rm450 million. Lim already owns 3.88ha in PBD via his Impian Ekspresi Sdn Bhd.
With the two parcels, Lim owns about a third of the 18.6ha.
As such Malton, in which Lim has a 37.9% stake is said to be raising money for a multibillion ringgit redevelopment via a share placement exercise.
It was reported that Malton has appointed a broker for the exercise, expected to raise some rm40 million equivalent to a placement price of rm1.10.
Its net asset value per share is rm1.55. Its total borrowing stood at rm397 million.
Rail connectivity will be crucial in connecting Pavilion KL to Pavilion 2 and possibly Lim’s third mall in Bukit Jalil expected to be linked to an MRT line.
The Pavilion in Bukit Jalil will be an integral part of a joint venture between Malton and Ho Hup on a 24.28ha siate with a GDV of rm4 billion. Malton is supposed to develop 20.23ha while Ho Hup will develop the remaining 4.05ha.
Lim could inject the Bukit Jalil Pavilion into the Pavilion REIT once the mall is completed and its rental income stabilizes.
Malton has three projects in the pipeline worth rm7.9 billion at Bukit Jalil, Batu Kawan in Penang and in Pengerang, Johor.
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