Lion Diversified: It will be meeting its creditors in Oct 2012 to
discuss the restructuring of its US$132 million exchangeable bonds due on Nov
16, 2012.
LDHB is
meeting the bondholders to extend the maturity of the bonds, which are
exchangeable for shares in Parkson Holdings Bhd, by two years to Nov 16, 2014.
The redemption of the bonds will be a full value on the extended maturity date.
LDHB will
also make additional partial redemption on and after Nov 16, 2012 and intends
to reduce the yield o the bond from 9% per year to 6% per year. LDHB is also
resetting the change price to between rm3.97 per share and rm5.30 per share in
the extended tenure of two years.
As at 27
Sept 2012, the outstanding amount of the exchangeable bonds was US$68.29
million.
MYEG: It is poised to see an acceleration of earnings in the medium term,
spurred by the introduction of new Road Transport Department, immigration and
customs-related services.
Its
portfolio of services continues to grow although growth rates will inevitably
slow as they near market share saturation levels. It is seeing increasing
market share and customer acceptance. The underlying market for its range of
services is large, with recurring demand supported by the growing popularity of
online services.
Its near
term earnings will continue to be driven by its JPJ services, road tax renewal
and insurance premiums, while the introduction of new services will spur future
growth. These services are supported by a large number of vehicles and drivers
and high transactional frequency.
The company
is introducing new services that will spur growth, including a just launched
online vehicle registration transfer service. Future plans include a
registration number bidding system.
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