KFC Holdings (M)
Bhd (RM3.82/share)
EPF joins JCorp in
KFC & QSR acquisition
The Employees Provident Fund (EPF) has joined Johor
Corporation (JCorp) to become shareholders of Massive Equity Sdn Bhd (MESB).
MESB is a special purpose vehicle formed to undertake the acquisition of QSR
Brands Bhd and KFC Holdings (M) Bhd. In a statement, JCorp said with the signing of the
shareholders’ agreement, JCorp maintains its 51% stake in MESB, while the
EPF-led consortium makes up the remaining 49% via Melati Asia Holdings Limited
(MAHL). It said MAHL is 51% owned by EPF, while Britain-based CVC Capital
Partners (CVC) holds the rest. Consequently, 76% of MESB is in Malaysian hands,
it added. – Bernama
Telekom Malaysia
Bhd (RM5.39/share)
HSBB outpaces others in region
The high-speed broadband (HSBB) network being built by
Telekom Malaysia (TM) has outpaced other similar national initiatives in the
region, according to Informa Telecoms and Media (ITM). The HSBB is a 70:30
joint venture between TM and the government and has some 310,000 subscribers as
at end-April. It has over 1.2 million premises in the country with the network
set to be completed both on time and under budget. ITM said HSBB deployment has done so well that there is now
talk of extending the network beyond its original target of 20% of the total
homes in the country. There are also
plans to go outside the Klang Valley, with strong interest from several state governments. In addition, other national broadband network (NBN) in the
region have deployed more complex models with new and independent entities
created to build and operate their NBN networks and that has taken a lot of
time and created some significant teething problems, especially in
Australia. – Business Times
Formis Resources
Bhd (RM0.85/share)
Buys 20pc stake in
Microlink Solutions
Formis Resources Bhd said its wholly-owned subsidiary,
Formis Holdings Bhd (FHB), has acquired 20% stake in Microlink Solutions Bhd
from Technology World Company for RM4.6mil cash. Formis said the acquisition was
a direct business transaction and funded entirely from internally-generated
funds. In addition, FHB has to pay and settle RM450,000 owed from Technology
World to Microlink Worldwide Sdn Bhd, a wholly-owned subsidiary of Microlink.The
transaction will affect the Heads of Agreement entered into by Formis and FHB with
Microlink. Under the agreement, Formis and FHB proposed to dispose of all of their
shareholdings in Applied Business Systems Sdn Bhd, Formis Computer Services Sdn
Bhd, First Solution Sdn Bhd and Formis Systems & Technology Sdn Bhd to Microlink
for an indicative disposal consideration of RM102.0mil to be satisfied via the issuance
of new Shares in Microlink. y virtue of FHB’s stake acquisition in Micolink, the
proposed disposal will be deemed a related party transaction under the Main
Market Listing Requirements of Bursa Malaysia Securities Bhd. – Business Times
Source: AmeSecurities
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