Thursday 12 July 2012

News Highlights - Maxis, Malaysia Building Society, Sime Darby, Construction Sector


Maxis Bhd (RM6.50/share)
Gets suitors for India business
One or two parties have shown interest in taking a stake in Maxis Communications Bhd’s India-based Aircel Ltd, but executives close to the company said these discussions are normal in the course of business. The executives also described talk of Maxis’ imminent exit from India as pure speculation.
Maxis Communications is the major shareholder of Aircel and Bursa Malaysia-listed Maxis Bhd. Quoting an executive close to Maxis,  The Economic Times of India reported that the company has held several rounds of discussions with bankers representing Russia’s Sistema Shyam Teleservices Ltd.
The report quoted a Sistema India spokesman denying talks with Aircel, pointing out that its immediate priority was to seek clarity on spectrum-related regulations from the government and the outcome of its curative petition. – The Edge

Malaysia Building Society Bhd (RM2.50/share)
Aims to open 10 branches this year
Malaysia Building Society Bhd (MBSB) targets to open at least 10 branches this year in line with the company’s business expansion. MBSB now has 35 branches and also 10 sales representative offices. MBSB Senior Vice President of Retail Business Division, Azman Aziz, said some branches will open soon in Kelana Jaya and Putrajaya as well as in Sabah and Sarawak.
Azman said MBSB is also looking to open more branches in Penang, possibly in Bayan Baru or Kepala Batas in the mainland. He said MBSB is currently enhancing its technology platform through a new core banking system to provide the best services and products to customers. – Bernama

Sime Darby Bhd (RM9.95/share)
Property campaign rakes in RM800 million in sales
The Sime Darby Property Lifestyle Collection has recorded a total gross sales value of close to RM800.0mil since the campaign was launched in early April. The achievement came on the back of a strong take-up of the wide-ranging residential and commercial properties located in Sime Darby Property’s 10 known townships in the Klang Valley and Nilai, Negeri Sembilan. As the campaign drew to a close on June 17, about 700 units of properties were sold. – Bernama

Construction Sector
Mudajaya, Gadang win jobs from MRT Corp
Mudajaya Group Bhd and Gadang Holdings Bhd have received a letter of acceptance from Mass Rapid Transit Corp Sdn Bhd for jobs worth over RM800.0mil each. In a filing to Bursa Malaysia yesterday, Mudajaya said that the project was for the construction and completion of a viaduct guideway and other related works from the Dataran Sunway Station to Section 17 in Petaling Jaya. The company said that the works project is valued at over RM816.2mil and works are expected to be physically completed by February 2016. Meanwhile, Gadang Holdings would be involved in the construction of the same kind of viaduct guideway and other associated works from Kota Damansara Station to the Dataran Sunway Station. The job is valued at over RM863.4mil. – Business Times

Source: AmeSecurities 

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