Petronas Gas Bhd
(RM18.72/share)
In deal with Sabah
Energy Corp
Petronas Gas Bhd (PetGas) has entered into a shareholders’
agreement with Sabah Energy Corp Sdn Bhd (SEC) to allow the latter subscribe to
one ordinary share of RM1,000 each in its wholly owned subsidiary, Regas
Terminal (Lahad Datu) Sdn Bhd. In a statement, PetGas said the agreement also
came with an option for SEC to subscribe up to 20% of the equity of RGT within
a stipulated time period.
RGT is currently a dormant company, incorporated for the
purpose of undertaking the construction and development of the LNG
Regasification Facilities in Lahad Datu, Sabah. The facilities were scheduled
for completion in 2015 and would have a sendout capacity of 0.76 million tonnes
per annum.
The option period for SEC to subscribe up to 20% of the
equity of RGT is up to 12 months of the commercial operation date of the
facilities, failing which, the subscribed share by SEC up to the said date as
well as the right to subscribe to the 20% equity will revert back to PGB. –
StarBiz
TSH Resources Bhd
(RM2.37/share)
In fresh takeover bid
for Pontian United
Plantations firm TSH Resources Bhd and partners may unveil a
new game plan for Pontian United Plantations Bhd’s investors as part of its
renewed takeover offer plan for the company.
TSH Resources chairman Datuk Dr Kelvin Tan Aik Pen said the
plan will be positive for shareholders, with added value. However, he declined
to elaborate, saying TSH will issue a statement this Friday followed by the
unveiling of the new game plan in the next two weeks.
The extended takeover offer deadline to Pontian United this
Friday is the fourth extension since TSH announced its takeover plan of Pontian
United in June. – Business Times
Bandar Raya
Developments Bhd (RM2.83/share)
Ambang may delist
BRDB if can’t meet rule
Ambang Sehati Sdn Bhd plans to delist Bandar Raya
Developments Bhd (BRDB) if its takeover of the company would result in the
latter not being able to comply with the public spread requirement of
Malaysia’s stock exchange regulator.
Ambang Sehati, the private investment vehicle of BRDB
chairman Datuk Mohamed Moiz Jabir Mohamed Ali Moiz, currently holds an 18.49%
stake in BRDB. The offeror also holds 41.43 million warrants, or 19.12%, of the
total outstanding warrants.
One of the listing requirements of Bursa Malaysia Securities
Bhd is that a listed issuer must ensure at least 25% of its total listed shares
are in the hands of public shareholders.
Ambang Sehati’s offer will close at 5pm on Oct 1, being the first closing
date. Its warrants offer will close earlier at 5pm on Sept 26. – StarBiz
SapuraKencana
Petroleum Bhd (RM2.33/share)
Joint-venture unit
gets RM139mil job
SapuraKencana Petroleum Bhd said its joint-venture unit has
been awarded a US$45mil (RM139.6mil) contract for the charter of a vessel to
Construcciones Maritimas Mexicanas SA de CV. The contract, which was awarded to
SapuraAcergy Sdn Bhd (SASB), comprised the provision of Sapura 3000 to undertake
heavy lifts in the Gulf of Mexico region. The charter, which commenced on Aug
18, would be for 125 days. SASB is an equal joint-venture company between
SapuraKencana and Subsea 7 SA. - StarBiz
Source: AmeSecurities
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