Telekom Malaysia Bhd
(RM5.68/share)
TM: Broadband market
big enough for all
Telekom Malaysia Bhd’s (TM) customer base for its Unifi
services has swelled to 393,000. But, with impending competition from the
cellular players that are entering its home services turf, its lion market
share of high-speed Internet broadband will come under pressure soon.
TM executive vice president of TM Consumer Imri Mokhtar said
they will be affected by competition and expect 10% to 20% of share going to
other players in the medium to long term. However, he also feels the market is
big enough for all and this is evident from the “high take-up rate for TM’s
Unifi services.’’ TM’s internal target is to have 400,000 Unifi subscribers by
year-end. – StarBiz
Jaya Tiasa Holdings
Bhd (RM9.02/share)
Selling shares worth
RM330m
Jaya Tiasa Holdings Bhd, a palm oil plantations and timber
company, is selling up to 42 million new shares worth around RM330.0mil,
according to a source familiar with the deal.
The shares are being priced at a range between RM7.70 and
RM8.20 per share, the source said, representing a 9.1% to 14.6% discount to the
closing price of RM9.02 yesterday.
The proceeds raised from the placement are meant for the
repayment of bank borrowings, palm oil mills construction, working capital and
acquisitions, according to the source. – Business Times
Malaysian Airline
System Bhd (RM1.11/share)
Mulls ordering Airbus
A330
Malaysian Airline System Bhd’s (MAS) chief executive officer
Ahmad Jauhari Yahya said it will accelerate the exit of Boeing Co wide-body
jets from its fleet and look at ordering the upgraded A330 model announced by
Airbus SAS. The carrier’s nine remaining Boeing 747 jumbos are likely to be
stood down by the end of November rather than in March as planned earlier,
while its 777-200s will be gone within three years. MAS will standardize its
twin-aisle fleet on Airbus’ A380 and the smaller A330, with an upgraded version
of the latter having sufficient range for a network where the longest route –
Kuala Lumpur–London – is only 12.5 flying hours. The carrier has 15 A330s on
order, about half of which have been delivered and options for 10 more which
could be converted as upgraded models. – StarBiz
Aviation Sector
AirAsia-MAHB spat
over KLIA2 continues
AirAsia is on Malaysia Airports Holdings Bhd’s (MAHB) throat
again with the same issue - the development of new low-cost carrier terminal,
KLIA2. AirAsia chief executive officer Tan Sri Tony Fernandes is still adamant
that the cost of the airport will increase to RM5.0bil, without the cost of the
ERL or the privatised projects that have been handed out. Fernandes also said
that AirAsia has strongly objected to the relocation of the new low-cost
carrier terminal to KLIA West due to its poor soil conditions where costly, time-consuming
engineering works must be carried out before constructions. He said the
warnings are explicitly stated in the 1992 KLIA Master Plan. AirAsia claimed
that it has pointed out to MAHB earlier that moving KLIA2 would increase
construction costs to RM3.9bil at least, from the original RM1.9bil, said Fernandes. – Business Times
Source: AmeSecurities
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