LBS Bina Group Bhd
(RM0.89/share)
Could reap RM650mil
from disposal of Dragon Hill
LBS Bina Group Bhd is negotiating the sale of up to 100% of
its subsidiary Dragon Hill Ltd, for an indicative price of about HK$1.65
billion (RM651.76mil). LBS said its wholly-owned unit, Intellplace Holdings
Ltd, which owns 100% of Dragon Hill, signed a memorandum of understanding with
Jiuzhou Technology Co Ltd, a wholly owned subsidiary of Jiuzhou Development
Company Ltd. LBS told The Edge Financial Daily that the sale of Dragon Hill
does not mean it will be exiting the China market completely. It still has an
interest in the Zhuhai International Circuit, the first permanent motor racing
circuit built in China, which is under the management of LBS. – The Edge
Financial Daily
Three-A Resources
Bhd (RM1.16/share)
Three-A’s China plant
to start production this month
Three-A Resources Bhd’s manufacturing plant in China, which
it jointly owns with Wilmar International Ltd, has been commissioned Ltd, has
been commissioned and slated to start production this month, said its
independent and non-executive chairman Datuk Mohd Nor Abdul Wahid. The plant
will manufacture food ingredients such as hydrolysed vegetable protein (HVP), a
food flavor enhancer found in processed foods such as soup, sauce, dip, dressings,
seasoning and snack food. Mohd Nor said
the plant is in a “gestation period” and has to undergo trial runs for six to
seven months. – The Edge Financial Daily
MAA Group Bhd
(RM0.50/share)
Said to be considering selling fund management business Fresh
selling its core insurance business and becoming debt-free, MAA Group Bhd is
considering hiving off its fund management business, according to sources. While
not ruling out the possibility of a corporate exercise, a source told Starbiz: “Many
have been ‘knocking on the doors’ of MAA and have shown interest in buying its
unit trust business. If the timing and pricing is right, the company may
consider selling it. However, this cannot be said of its takaful outfit. Some
announcements will be made over the next few months.” – StarBiz
Source: AmeSecurities
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