Friday 30 March 2012

News Highlights - CIMB Group Holdings, Malayan Banking, Bursa Malaysia, Tenaga Nasional


CIMB Group Holdings Bhd (RM7.60/share)
Unit in JV deal with Rohatyn
CIMB Group Holdings Bhd’s wholly-owned subsidiary, CIMB Strategic Assets Sdn Bhd (CIMBSA), has established a joint venture with The Rohatyn Group (TRG) with a 40:60 shareholding in three companies. The companies are Capital Advisors Partners Asia Sdn Bhd (CapAsia), CapAsia Islamic Infrastructure Fund (General Partner) Ltd, and CapAsia Asean Infrastructure Fund III (General Partner) Ltd. In a statement, CIMB said the joint venture shall jointly sponsor, manage and administer the CapAsia Funds and undertake private equity investments in the infrastructure sector.  – Business Times

Malayan Banking Bhd (RM8.80/share)
Licence to expand Maybank sees local incorporation of ops in Cambodia
Malayan Banking Bhd (Maybank) is expected to receive a local incorporation licence for its operations from the National Bank of Cambodia early next month to facilitate its ongoing expansion plans in Cambodia. Maybank currently has 11 branches in Cambodia, with plans to open at least another one in the country within this year. It’s been reported that over the 12 months to October 2011, Maybank Cambodia had registered a 75.2% growth in loans and advances, with 4.0% growth in customer deposits. Meanwhile, Maybank president and CEO Datuk Seri Abdul Wahid Omar clarified that the group was currently not looking at acquiring anything actively in Thailand, but that it would remain open to opportunities for the group to expand its foothold there. - StarBiz

Bursa Malaysia Bhd (RM7.26/share)
Plans bond for retail investors
Bursa Malaysia Bhd plans to launch an exchange traded bond for retail investors in the second half of this year. Bursa Malaysia chief executive officer Datuk Tajuddin Atan said the retail bond would allow investors to switch from equity to a debt instrument that has exposure to interest rates, adding that investors could buy the retail bond from brokers just as they do with equities. Tajuddin also said Bursa Malaysia was looking for further improvement in two key areas, namely market accessibility and product offerings. Besides the retail bond offer, the exchange is also looking at introducing futures and option products. By June, the first roll-out of the Asean Exchanges will see the launch of Asean link between Singapore Exchange (SGX) and Bursa Malaysia, followed by the Stock Exchange of Thailand (SET) in August. Through this collaboration investors from around the world will have access to a combined market capitalisation of US$1.8 trillion (RM5.5 trillion) representing more than 3,000 companies. – Business Times

Tenaga Nasional Bhd (RM6.36/share)
To make first FiT payment next week
Tenaga Nasional Bhd (TNB), which is expected to pay RM300.0mil a year to Sustainable Energy Development Authority (Seda) for feed-in-tariff (FiT), will make its first payment next week, according to (Renewable Energy and Green Technology), customer service and metering, distribution division head Abdul Rahim Jamil. Abdul Rahim said TNB’s first payment to be made would be for the month of December but it would not be substantial as FiT had just started. There will be a lag of about four months in payments to Seda mainly because of the collection from  TNB’s customers. Seda is expecting 985MW or 6% of total country’s energy mix to come from RE in 2015 and currently 68.5MW are connected to the grid. As at Feb 29, Seda has approved 377 applications for RE with installed capacity of 311.56MW. Of the amount, 140.03MW installed capacity was from solar photovoltaic (PV). Meanwhile, TNB Janamanjung Sdn Bhd general manager Shamsul Ahmad said Tenaga Nasional Bhd’s (TNB) RM5.8bil coal-powered plant in Perak is a quarter way into completion. The new plant is located next to its existing three power plants that are currently generating 2,100 megawatts (MW). He said Manjung 4 (the new plant) will be Southeast Asia’s first 1,000MW supercritical coal-fired power plant. Shamsul said Manjung 4 is scheduled to be completed by March 2015. It will be fed three million tonnes of coal a year. – StarBiz, Business Times

Source: OSK188

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