IJM Land Bhd
(RM2.17/share)
Partners Robert Tan to develop Johor Land IJM Land Bhd has
acquired 50.0% equity interest in Nasa Land Sdn Bhd, a subsidiary of Aspirasi
Ratna Sdn Bhd for RM51.0mil, in order to expand its landbank. In a statement to
Bursa yesterday, the group said it had entered into a conditional share sale
and purchase agreement with Aspirasi Ratna to acquire a total of one million
ordinary shares at RM1 each in Nasa Land for a total cash consideration of RM51.0mil.
IJM Land decided to purchase the loss-making company after
taking into consideration the future development potential of the remaining
undeveloped land Nasa Land holds. IJM Land added that it will be funding the
acquisition through internally generated funds.
Nasa Land is the land owner and developer of the Desa Palma,
a mixed development project in Mukim Tebrau, Johor Baru, and it has 39ha of
undeveloped land in the area. – The Edge
KFC Holdings (M)
Bhd (RM3.75/share)
To spend RM63mil to set up more outlets in Msia and India KFC
Holdings (M) Bhd’s (KFCH) managing director, Jamaluddin Ali, said it will spend
RM63.0mil this year to expand its operations locally as well as in India.
He said KFCH which has at present 550 outlets throughout the
country, will invest another RM45.0mil this year to open 15 additional outlets,
with 10 of it being drivethrough. For the Indian market, they plan to spend
RM18.0mil this year to add another nine outlets in Mumbai and Pune, bringing
the total number to 26 in the country.
On the attempt by KFCH to improve customer service, he said,
the company is in the midst of installing 100 Kiosk Display System (KDS) at its
high-traffic outlets in the Klang Valley, Penang and Johor Baharu. He said the
KDS will cut queuing-time at these outlets, thus providing much better service.
He added that installing the KDS at the KFC outlets, is also
an attempt by the company which employs 35,000 staff throughout its operations,
to improve Information Technology (IT) capability and hospitality among its
frontline members. - StarBiz
Malaysian Airline
System Bhd (RM1.37/share)
To be oneworld member soon By year-end Malaysia Airlines
(MAS) would have become a full member of the oneworld alliance and would be
able to offer connectivity to about 800 destinations
in 150 countries by riding on an expanded oneworld network.
MAS group chief executive officer Ahmad Jauhari Yahya said
this membership will be among the significant catalysts that will complement
their efforts to win back customers and become a profitable preferred premium
carrier as outlined in their Business Plan.
Jauhari said the entry into oneworld would enhance its
network considerably whileproviding baseload demand from fellow oneworld
members. – StarBiz
Malaysia Building
Society Bhd (RM2.24/share)
Biggest abandoned housing project in the country to be
revived Malaysia Building Society Bhd (MBSB) will finance the builder and
buyers of Malaysia’s biggest abandoned housing project, located in Bandar Baru
Salak Tinggi, Sepang as part of its efforts to resolve its corporate legacy
accounts issue.
MBSB, which is 65.5%-owned by the Employees Provident Fund
(EPF), will provide term and bridging facilities of up to RM215.0mil to builder
NCT United Development Sdn Bhd (NCT), and an additional RM243.0mil to the buyers,
said its CEO Datuk Ahmad Zaini Othman.
Buyers will pay an interest rate of base financing rate
minus 0.5%, which is slightly more expensive compared with conventional loans
because these borrowers are mostly in their 50s. MBSB is also classified as an
‘exempt finance company’ and is thus not bounded by any financial regulators in
Malaysia.
According to MBSB, the housing project was abandoned due to
cost overruns coupled with the “unfavourable economic situation then”. NCT CEO
Zulfikri Saidin said it will be renamed Sepang Perdana and is expected to be
completed within two years. – StarBiz
Source: AmeSecurities
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