AirAsia Bhd
(RM3.50/share)
Indonesia approves
AirAsia’s purchase of Batavia Air
The Indonesian government has approved in principle the
purchase of Batavia Air by Malaysian low cost airline company, AirAsia Bhd and
its Indonesian partner, PT Fersindo Nusaperkasa.
Indonesia’s Air Transportation Director General, Harry Bakti
said following the approval, AirAsia will be able to realise its purchase of
76.95% share of Batavia Air initially and follow up with the purchase of
another 23.05% equity in the second phase. Meanwhile, Dharmadi, the President
Director of Fersindo, the majority shareholder of PT Indonesia AirAsia, said
with the approval from the Transportation Ministry, the company will be taking
the steps to finalise the acquisition. With the purchase, AirAsia will hold 49%
equity in Batavia Air, while Fersindo will be the majority shareholder with 51%
share. – Bernama
Lingkaran Trans Kota
Holdings Bhd (RM4.15/share)
Gets RM80m from govt
for toll hike delay
Highway concessionaire Lingkaran Trans Kota Holdings Bhd
(Litrak) will receive over RM80mil in compensation from the government for
postponing toll hikes. Chief financial officer Richard Lim Kim Ong said the
company had received half of the cash payout in the middle of this year and the
balance will come in the following year after an audit of the traffic has been
conducted.
According to Litrak’s concession agreement, the toll rates
for Lebuhraya Damansara Puchong (LDP) were scheduled for a rise on January 1
2011, but the government had decided to defer until further notice. Lim said the cash payout from the federal government
will help ease the company’s top line as traffic along the LDP has been almost
saturated.
Meanwhile, Litrak chief executive officer Sazali Saidi said
he is unaware of any Gamuda Bhd’s plans, the company’s major shareholder, to
divest stake in the highway operator. Sazali also refuted claims that the
management of Litrak and PLUS Expressways Bhd are now in talks on a potential
buyout offer for Sprint. – Business Times
Construction Sector
Ahmad Zaki wins
RM174m MRT project
Ahmad Zaki Resources Bhd, a construction company, has won a
RM174.6mil project from Mass Rapid Transit Corp Bhd for the construction and
completion of elevated stations and other associated works at Taman Suntex,
Taman Cuepacs and Bandar Tun Hussein Onn.
The date for the practical completion for the works shall be
on June 30, 2016, while the date for line completion for the entire works will
be on July 31, 2017. – Business Times
Source: AmeSecurities
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