Maybank: It is considering options to expand in Thailandincluding takeovers after raising RM3.66 billion (US$1.2 billion) this month to boost its presence in Southeast Asia . Its intention to have a full presence across all the 10 countries in Southeast Asia . Within that context, the idea of raising additional capital is meant to enable Maybank to grow a bit more aggressive in markets like Indonesia , thePhilippines and later possibly into Singapore. However its CEO Abdul Wahid reiterated that proceeds from its Oct 8 share sale are not meant for making a bid for Bank of Ayudhya Pcl in Thailand.
Gamuda: Speculation that major shareholders and directors of Gamuda reducing their stakes in Gamuda. Market observers said that it could be a usual portfolio reorganization in anticipation of Malaysia’s impending general election. Major shareholders and directors of Gamuda had disposed of Gamuda in early Oct 2012. The EPF had sold 4.5 million shares. Following the sale the EPF still holds 5.37% stake in Gamuda. Meanwhile Raja Datuk Seri Eleena Azlan Shah, a director in Gamuda, had sold a total of 1.9 million shares in the open market at between rm3.52 and rm3.57 each. Followinf the sale, Eleena still owns an indirect 6.2% and a direct 0.01% stake in Gamuda.Another director, Datuk Ng had disposed three million shares at rm3.50 each leaving him with a remaining direct stake of 1.39% in Gamuda.
Airasia: The acquisition of PT Metro Batavia, the owner of ailing carrier, Batavia Air, by Malaysia-based low-cost carrier, AirAsia Bhd, and its Indonesian partner, Fersindo Nusaperkasa, has been called off. The company had failed to reach and agreement with AirAsia and Fersindo. AirAsia and Fersindo signed a memorandum of understanding (MoU) with the domestic carrier at end-July to buy PT Metro Batavia, including its flying school, worth US$80 million (RM256 million). Under the MoU, AirAsia will own 49 per cent of Metro Batavia, while Fersindo will hold the remaining 51 per cent in order to meet Indonesian ownership rules.
Overall market observers were positive on the failed deal nothing that the acquisition would have posed a huge risk to Airasia. Airasia should stick to what it does best by growing operations organically as opposed to M&As.
Meanwhile, Airasia indicated that it would be pushing to list its Indonesian operations but not anytime soon since it does not have a track record and its earnings have been very stable.
Airasia Indonesiawould accelerate its fleet expansion. In 2013, Airasia is expected to lose its dominance in Malaysia’s low cost travel market with the entry of Malindo Airways in May 2013.
Scomi Group: It has decided not to proceed with the proposed sale of its subsidiaries Scomi Oilfield Ltd, Scomi Sosma Sdn Bhd and Scomi KMC Sdn Bhd worth rm784 million.
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