Friday 9 March 2012

9 March 2012 News - AirAsia, Petronas Dagangan, Top Glove Corp, Construction Sector


AirAsia Bhd (RM3.66/share)
To list Thai unit in Q2Yesterday, an AirAsia company official said it hopes to raise up to US$200.0mil (RM604.0mil) by listing its Thai unit by the second quarter of this year. Aireen Omar,AirAsia’s head of corporate finance said an application to list 750 million shares onthe Thai bourse had been submitted to authorities in Thailand last month. AirAsia’s route system is spread throughout Asia and beyond, and the company hasset up subsidiaries in Thailand, Indonesia, and Philippines and is planning one to serve Japan’s budget market. – Business Times

Petronas Dagangan Bhd (RM18.36/share)In oil deal with Perodua
Petronas Dagangan Bhd (PDB) signed a deal worth RM225.0mil to supply local carmaker Perodua with lubricant oil over the next five years. Under the agreement, Perodua will be using Petronas Dagangan’s SL/SM grade oil worth RM45.0mil per year at all its service outlets nationwide with immediate effect. – StarBiz

Top Glove Corp Bhd (RM4.70/share)
Eyes acquisition this year Top Glove Corp Bhd, the world’s largest rubber glove maker by volume, aims to buy at least one other glove producer this year as part of its strategy to gain market share and drive earnings, according to its chairman and founder, Tan Sri Lim WeeChai. Lim added that the company was in talks with a number of rubber glove makers who are mainly from Malaysia. He also said Top Glove was well placed to make acquisitions on the back of its strong net cash position. The company held some RM300.0mil net cash as of Feb 29, 16.7% higher than August a year earlier. The global rubber glove industry, worth RM14.8bil, has consolidated over the past decades, from 65 industry players controlling 45% of world market share in 2000 to 40 players with some 63% in 2012, according to the Malaysian Rubber Export Promotion Council.  - StarBiz

Construction Sector
MRT Corp shortlists 28 firms for 6 work packages Mass Rapid Transit Corp Sdn Bhd has prequalified 28 companies for six MyRapid Transit (MRT) work packages. The companies were chosen from 51 submissions. In a statement yesterday, MRT said the six work packages include electric trains, depot equipment and maintenance vehicles, signalling and train control systems, platform screen doors, power supply and distribution systems and track works. MRT said the applicants were evaluated based on their merits and a list of criteria including financial capabilities, track record, experience, existing management staff and key personnel, the average annual construction turnover in the last five years, their existing plant and equipment as well as their existing quality, safety, health and environment practices. – The Edge

Source: OSK188 

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