Maxis to broaden range of services

• Maxis tied-up with GSC and TGV Cinemas to enable its subscribers to book the cinema tickets. They entered a 1-year partnership with PayPal’s mobile payment service in order to provide a simplified & secured ticket payments.
• Plans to further broaden its offering of mobile internet services and is looking into the healthcare and education segments.
• Next, positioning itself as an early adopter and partner of media and content providers. Potential partnerships to be formed between fixed, mobile telcos, and media & content providers - rumor to partner with Astro for IPTV via copper cable. No more interruption on rainy days.

Airasia defers delivery of 10 Airbus A320 to year 2015

• AirAsia revised of the delivery dates of 10 Airbus A320 aircraft originally scheduled for delivery in 2012 to the year 2015. 
• With the deferment, the delivery of 24 aircraft in 2012 will be reduced to 14, while the number to be delivered in 2015 will increase from 9 to 19 aircraft. 
• No penalty payable by AirAsia to Airbus for the deferment.
• Reason for switching from classic A320 -> a new generation A320; which is more fuel efficient aircrafts. Also it will allow AirAsia to better manage its net gearing, which is expected to reach 178% by FY12.
• Target price RM3.78.

Offer for MTD revised to RM11 per share

• Offer for MTD Cap revised to RM11 per share from the joint offerors Nikvest SB, Alloy Consolidated SB, Alloy Concrete Engineering Consolidated SB and Alloy Capital SB. 
• The joint offerors, which are also the major shareholders of MTD Cap, are the private investment vehicles of Datuk Nik Hussain Abdul Rahman and Datuk Azmil Khalili, the group executive chairman and president, and CEO of MTD Cap, respectively.

DAYANG secured RM802 million contract

• DAYANG has secured a contract valued at RM802 million to provide topside structural maintenance servicesfrom Petronas Carigali.
• The contract for PCSB’s Sarawak, Sabah and Peninsular Malaysia operations will run from 2 Feb 2011 to 1 Feb 2016.

LATEXX takeover offer of RM852.03mill from Navis Asia VI Mgmt Comp Ltd

• Latexx received a takeover offer of RM852.03mill or RM3.10 per share from Navis Asia VI Management Company Ltd.  
• In reply to a query from Bursa Malaysia, on 2 Feb Navis confirmed that it had sufficient financial resources to undertake the acquisition. Currently has over USD3billion in capital under management and had sufficient unutilised funds for the acquisition. 
• The offer price was at a premium of approximately 20% over the five-day volume weighted average market price up to 26 Jan.

SAPCRES, KENCANA & Petrofac in JV to develop Berantai oil field

• SAPCRES, KENCANA and Petrofac Energy Developments, a unit of London-listed Petrofac, has entered into a JV to develop and operate the Berantai field located 150km offshore Terengganu.
• The interest of each Operating Party under the JOA is as follows:

1. Sapura Energy Ventures - 25%
2. Kencana Energy - 25%
3. PED - 50%

• A risk service contract (RSC) was signed by Petronas and the operating parties. The contract would be for 9 years commencing Jan 31, 2011 with first gas from the project expected by the end of Dec 2011.
• Under the agreement, the operating parties would provide 1 well-head platform with 18 wells (expected to be completed by end-2012) together with related pipeline linking it to another existing platform and the provision of a floating production, storage and off-loading vessel (FPSO).
• The operating parties would also have the right to deploy works and services to the project while a second well-head platform would be installed in a subsequent phase.
• The total development cost including for the subsequent phase, to be incurred collectively by the operating parties, was estimated at this juncture at approximately US$800 million excluding the provision of the FPSO.
• The RSC from the JV are  expected to have a positive impact on the net asset, net asset per share and earnings per share of the companies involved.
• KENCANA target price RM3.05

BINTAI wins project RM35.9 million in Singapore

• BINTAI wins RM35.9 million (US$28 million) contract.
• The main building works to the proposed part six-storey part 20-storey Mixed Development consisting of hospital, hotel and medical clinics at Race Course Road, Singapore.

MTD Capital directors offer RM3.25bill to acquire MTD Prime Sdn Bhd & Metramac Corp Sdn Bhd

• MTD Cap have made a RM3.25 billion cash offer to acquire the entire business and undertaking of MTD Prime Sdn Bhd and Metramac Corp Sdn Bhd including all their assets and liabilities. MTD Cap owns 100% of MTD Prime and Metramac.
• Offer made by its group executive chairman Nik Hussain Abdul Rahman and the president/chief executive officer Azmil Khalili Khalid.
• MTD Prime is the tolling concessionaire for the Kuala Lumpur - Karak Highway and its extension, the East Coast Expressway Phase 1 (ECE1).
• The 60 km KL Karak Highway is the main thorough fare connecting the Klang Valley and Karak Town whilst the 174km ECE 1 begins from Karak to Jabor.
• Metramac Corporation Sdn Bhd was granted the concession on four toll roads in 1992. The four toll roads under the concession awarded to Metramac were: 

1. Jalan Pahang, 
2. Jalan Cheras, 
3. East-West Link Expressway
4. KL-Seremban Expressway

• The toll concession of Jalan Cheras and Jalan Pahang were handed over to the government on Sept 14, 2003 and March 18, 2004.

• PM said there will be no toll hike for the Kuala Lumpur-Karak and phase one of the East Coast highway for 5 years, effective from May this year.
• In response to the government’s request, the companies had come forward to provide a restructuring plan via the acquisition of the concession assets.
• PM also requested that the concession period be not extended and there will be no compensation to be paid by the government for the arrears in the toll review.
• The proposal involve the termination of the toll concession for the East-West Highway connecting the Salak interchange and Taman Connaught interchange, KL ahead of the scheduled closure, which is 2018.

• Earlier MTD Cap has received a takeover offer from a consortium value of RM2.61bill. 
• Consortium consist of :

1. Nikvest Sdn Bhd, 
2. Alloy Consolidated Sdn Bhd, 
3. Alloy Concrete Engineering Sdn Bhd and 
4. Alloy Capital Sdn Bhd 

• Consortium collectively own 131.48 million shares or 53% stake in the company offered RM9.50 a share to acquire the balance 116.02 million shares or 47% stake they did not already own. They have received acceptances of 7.57%.
• Also to acquire the remaining 49.23% stake, or 113.72 million shares of MTD ACPI for RM0.53 per share.

LATEXX to go private

• Latexx is rumored to go private. Received acquisition proposal on 27/1/2011.
• Company will make announcement on Monday 31/1/2011.

KENCANA gets RM398million via private placement

• Private placement of 166.7 million shares of 10 sen each via book-building exercise has been completed in gross proceeds of about RM397.6mill. Oversubscribed by 3.5 times.
• Believed the fund-raising exercise would be invested in the company's local marginal fields.
• PM Najib on Jan2011 announced billions of ringgit worth of investment in the oil and gas industry to enhance oil extraction from marginal fields.
• It is widely speculated that KENCANA & SAPCRES to be the local frontrunners for the marginal fields developments.
• Petronas will unveil a new business model on the development of marginal oil fields & local players are expected to JV with more experienced foreign partners.

MUHIBBAH & JV partner get jobs from PetGas for RM1.07billion

• MUHIBBAH via JV with the consortium partner Perunding Ranhill Worley Sdn Bhd have secured a RM1.07bill contract from PETRONAS under the LNG Regasification Project.
• The contract was for the engineering, procurement, construction, installation and commissioning (EPCIC) alliance for the LNG Regasification Unit, Island Berth and Subsea Pipeline of the LNG Regasification Project.
• The consortium will undertake the construction of the LNG Regasification Unit, Island Berth and Subsea Pipeline within the vicinity of the Sungai Udang Port in Melaka.
• The construction works will start in April 2011 and expected to be completed at the end of July 2012.
• It is expected to contribute positive earnings and net assets to Muhibbah Group.

SAPCRES secured USD31.8mill deal from Petronas

• The offshore works are expected to commence between October to November 2011 and run for a duration of 40 days.
• Project to install offshore facilities in the Andaman Sea.

Sarawak to award RM2billion road jobs

• These projects include:

1. 73km access road to Balleh hydro dam in Kapit; 
2. 60km access road to Baram hydro dam in Ulu Baram; 
3. 22km access road to Limbang hydro dam; and
4. 136km access road to Nanga Merit coal mine in Kapit.

• Potential beneficiaries are HSL and NAIM.

RAMUNIA to buy RM84mill fabrication yard from Oilfab

• Ramunia to acquire the Pulau Indah Integrated Fabrication Yard for RM83.8mill from Oilfab Sdn Bhd (Oilcorp subsidiary).
• The proposed acquisition will provide an immediate opportunity to participate in fabrication contracts as recently announced by the govt as part of the ETP for the oil and gas sector.
• It is expected to contribute positive future earnings to the company.

Honam to Acquire Titan Chemicals

• South Korea’s Homan Petrochemicals has invoked Section 222 of the Capital Markets & Services Act, 2007 (CMSA) to compulsorily acquire all the remaining 7,185,762 shares of Titan Chemicals for which acceptances have not been received.

• Earlier in July 2010 - Honam Petrochemical Corp, South Korea’s second-largest ethylene maker, has acquired a 72.3% stake in Titan Chemicals Corp Bhd for RM2.94bil, or RM2.35 per share. Premium of 27%, or 50 sen, over its last traded price
• According to the Malaysian Code on Take-Overs and Mergers, 1998, Honam is required to make an unconditional takeover offer to the remaining shareholders of Titan upon the proposed acquisition becoming unconditional.