Axiata Group Bhd
(RM6.04/share)
Successfully prices
world’s first rated yuan sukuk
Axiata Group Bhd has priced its inaugural issuance of a
two-year one billion yuan sukuk issued via its wholly-owned Malaysian
incorporated special-purpose vehicle (SPV), Axiata SPV2 Bhd. The sukuk is
issued under Axiata’s Multi-Currency Sukuk Programme with an aggregate nominal
value of up to US$1.5bil or its equivalent in other currencies established on
July 17. Airtime vouchers, representing entitlement to a specified number of
airtime minutes on the mobile telecommunications network of subsidiaries of
Axiata for on-net calls, will be utilised as the underlying asset under this
sukuk issuance. The sukuk is the first yuan-denominated sukuk that utilises
100% airtime vouchers as underlying assets and may be listed on Bursa Malaysia
(Exempt Regime) and Singapore Exchange Securities Trading Ltd. – StarBiz
Tenaga Nasional Bhd
(RM6.63/share)
To power up
non-regulated business
Tenaga Nasional Bhd (TNB), which depends heavily on regulated
business, wants to nearly triple the revenue of its non-regulated business to
RM5bil from RM1.8bil currently. Regulated business includes the sale of
electricity to public and private users. The price of power is controlled by
the government via fixed tariff rates, which cannot be raised without its
approval. TNB’s non-regulated business includes maintenance of power plants,
equipment manufacturing, provision of cable services and other operational
activities within the generation, transmission and distribution segments. TNB
president and chief executive officer Datuk Azman Mohd said the non-regulated business
can be carried out here as well as overseas where TNB may have presence in the
future. – Business Times
IJM Land Bhd
(RM2.21/share)
Property JV in
Kerinchi/Pantai Dalam corridor
IJM Land Bhd is undertaking a property development via a
joint venture with Amona Development Sdn Bhd in the Kerinchi/Pantai Dalam
corridor here. Yesterday, its unit Murni Lapisan Sdn Bhd had inked a JV agreement
with Amona to develop about 234,000 square metres of leasehold land. The joint
venture shall be known as AmonaMurni Lapisan JV. Amona had on June 21, entered
into a privatisation agreement with the landowner Datuk Bandar Kuala Lumpur to
build residential and commercial units on the site. Under the JV, Amona and
Murni Lapisan would make available funds in proportion to the profit sharing
ratio of 60:40 to pay for all costs of the project. Murni Lapisan’s portion of
development costs will be funded through mixture of internally generated funds
and/or bank borrowings. - StarBiz
Source: AmeSecurities
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