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PJDev: It has entered into a put and call option
deed with Dynasty Falls Pty Ltd for the option to purchase land in
Melbourne, Australia for a five acre land for rm440 million cash.
PJD had net borrowings of rm328 million as at March 31 2013.
Nevetheless, there has been speculation that PJD may embark on a corporate exercsie to raise funds or to be merged with OSK Property to form a bigger entity. Both are controlled by Tan Sri Ong.
MAS: Etihad said it was not negotiating with MAS for a potential stake in MAS.
Meanwhile Prime Minister Datuk Seri Najib Razak said MAS will not be closed down for now (June 2014).
Najib said although MAS was incurring losses, the direction of the company is still being reconsidered and any financial implication to the government would depend on the outcome of the due diligence being undertaken by the main shareholder, Khazanah Nasional Bhd.
The government has discussed MAS' dismal financial performance and has asked that the due diligence be carried out soon to identify the reasons behind the losses and the best options to solve them.
The findings of the study will be presented to the Khazanah board as soon as it is finalised in order to decide on the future direction of the company.
Gamuda: It has inked a deal to buy PNB 20% stake in highway owner and operator Kesas Holdings under a higher revised deal.
It had entered into a share purchase agreement with PNB to buy the latter's entire 20% stake at RM3.08 a share, compared with RM2.973 earlier.
It would seek an exemption from undertaking the revised offer under the Malaysian Code of Take-Overs and Mergers, 2010 from the Securities Commission. Upon completion of the purchase from PNB, it would directly hold 3.50 million Kesas Holdings shares and 326.14 million non-cumulative redeemable preference shares, representing 70%.
Perbadanan Kemajuan Negeri Selangor would also be paid in full for its stake in Keseas Holdings should it accept the revised offer.
TGOFFs: It says talks with several parties, including a unit of O&G giant Bourbon SA, for a RTO of the company is still on-going.
It was reported that the RTO is being opposed by a group of minority shareholders who want the option of being able to sell their shares to the new owners.
There could be a possibility of the RTO hitting a snag as it needs the nod from Ekuiti Nasional Bhd (Ekuinas).
Tanjung Offshore had entered into a non-compete clause with Ekuinas in 2012 when the latter bought its marine vessel services arm Tanjung Kapal Services Sdn Bhd (TKS), for RM220 million. A three-year restriction was imposed whereby Tanjung Offshore is not allowed to be involved in any business similar to TKS for at least another year. The RTO, meanwhile, would see Tanjung Offshore getting back into the very same business as TKS.
Tanjung Offshore has sent a request to Ekuinas for a waiver of the clause.
PJD had net borrowings of rm328 million as at March 31 2013.
Nevetheless, there has been speculation that PJD may embark on a corporate exercsie to raise funds or to be merged with OSK Property to form a bigger entity. Both are controlled by Tan Sri Ong.
MAS: Etihad said it was not negotiating with MAS for a potential stake in MAS.
Meanwhile Prime Minister Datuk Seri Najib Razak said MAS will not be closed down for now (June 2014).
Najib said although MAS was incurring losses, the direction of the company is still being reconsidered and any financial implication to the government would depend on the outcome of the due diligence being undertaken by the main shareholder, Khazanah Nasional Bhd.
The government has discussed MAS' dismal financial performance and has asked that the due diligence be carried out soon to identify the reasons behind the losses and the best options to solve them.
The findings of the study will be presented to the Khazanah board as soon as it is finalised in order to decide on the future direction of the company.
Gamuda: It has inked a deal to buy PNB 20% stake in highway owner and operator Kesas Holdings under a higher revised deal.
It had entered into a share purchase agreement with PNB to buy the latter's entire 20% stake at RM3.08 a share, compared with RM2.973 earlier.
It would seek an exemption from undertaking the revised offer under the Malaysian Code of Take-Overs and Mergers, 2010 from the Securities Commission. Upon completion of the purchase from PNB, it would directly hold 3.50 million Kesas Holdings shares and 326.14 million non-cumulative redeemable preference shares, representing 70%.
Perbadanan Kemajuan Negeri Selangor would also be paid in full for its stake in Keseas Holdings should it accept the revised offer.
TGOFFs: It says talks with several parties, including a unit of O&G giant Bourbon SA, for a RTO of the company is still on-going.
It was reported that the RTO is being opposed by a group of minority shareholders who want the option of being able to sell their shares to the new owners.
There could be a possibility of the RTO hitting a snag as it needs the nod from Ekuiti Nasional Bhd (Ekuinas).
Tanjung Offshore had entered into a non-compete clause with Ekuinas in 2012 when the latter bought its marine vessel services arm Tanjung Kapal Services Sdn Bhd (TKS), for RM220 million. A three-year restriction was imposed whereby Tanjung Offshore is not allowed to be involved in any business similar to TKS for at least another year. The RTO, meanwhile, would see Tanjung Offshore getting back into the very same business as TKS.
Tanjung Offshore has sent a request to Ekuinas for a waiver of the clause.
UMW: It has
allocated rm400 million in capex for its auto division in 2014. This
forms part of the group’s rm2.7 billion total capex for the financial
year ending Dec
31 2014.
The bulk of rm1.9 billion has been set aside for its oil and gas unit, while another rm250 million for its equipment segment.
UMW Holdings expect the O&G division to contribute a little more in net profit in 2014.
UMW Holdings holds a 51% stake in UMW Toyota Motor Sdn Bhd and 38% stake in Perodua.
PentaMaster: Semi equipment maker expects a positive financial year ending Dec 31 2014. Its performance would be driven by better revenue contribution from three main
business segments … semi-conductor, surgical gloves and LED.
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