IGB Corporation
Bhd (RM2.84/share)
Retail REIT plans RM700mil IPO
IGB Corp Bhd retail real estate investment trust (REIT) aims
to raise up to RM700.0mil from a planned September listing, according to a
source, banking on its flagship shopping malls to draw in investors in volatile
market conditions. The initial public offering (IPO) of IGB’s retail REIT will
be the fourth largest in the country this year after the planned listings of
Felda Global Venture Holdings Bhd, Integrated Healthcare Holdings Bhd and Gas
Malaysia Bhd. The source also said the book-building process would start in
August or September, adding that prime assets such as Mid Valley Megamall and
The Gardens Mall would be part of the retail REIT. - StarBiz
Jaya Tiasa
Holdings Bhd (RM7.69/share)
To raise RM300.0mil from share placement
Timber-cum-plantation group Jaya Tiasa Holdings Bhd,
controlled by the family of Tan Sri Tiong Hew King, has proposed a new
placement of 42.0 million shares or 15.0% of its issued and paid-up share
capital to raise some RM300.0mil. In a separate statement yesterday, the
company also announced the distribution of 13.4 million treasury shares as
share dividends on the basis of one treasury share for every 20 existing
shares, and a proposed 2-for-1 bonus issue of new Jaya Tiasa shares. The
proposed placement exercise is expected to raise some RM299.8mil, assuming full
subscription at issue price of RM7.13 per share based on a five-day volume-weighted
average market price.
Meanwhile, Jaya Tiasa also said its wholly-owned subsidiary,
JT Oil Palm Development Sdn BD (JTOP) signed an agreement with GenPower Carbon
Solutions LP (GPCS), for a biogas clean development mechanism (CDM) project
yesterday. – The Edge
SapuraCrest
Petroleum Bhd (RM4.95/share)
Gets nod for partnership
SapuraCrest Petroleum Bhd shareholders have approved the
company’s proposal to form a joint venture with Seadrill Ltd for the building,
construction and operation of three pipe-laying support vessels. SapuraCrest
and Seadrill had entered into a conditional agreement for the proposed joint
venture pursuant to the award of a contract by Petróleo Brasileiro S.A. to TL Offshore
Sdn Bhd, a wholly-owned subsidiary of SapuraCrest. TL Offshore had been awarded
a contract to charter and operate three pipe-laying support vessels at a total
value of about US$1.4bil (RM4.3bil). One of the vessels will be constructed in
Brazil while the remaining two will be built outside Brazil. Revenue from this
award is expected to be generated starting the fourth quarter of 2014. - StarBiz
Telekom Malaysia
Bhd (RM5.23/share)
Targets 10pc increase in SME customers
Telekom Malaysia Bhd (TM) plans to expand its small- and
medium-sized enterprise (SME) customer base by 10.0% by end of this year. The
country’s largest fixed-line phone company currently has 494,000 SME customers.
TM SME executive vice-president Azizi A. Hadi said TM is committed in their partnership role to supporting SMEs’
growth by enabling the enterprises to achieve a competitive edge, leveraging on
TM’s wide ranging solutions and extensive networks. – Business Times
Source: AmeSecurities
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