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Ananda plans US$1b pay-TV IPO by end-Sept

Malaysian tycoon T. Ananda Krishnan plans to re-list Astro All Asia Networks by end-September in a deal that would give the pay-TV firm a market capitalisation of up to RM15bil (US$4.7bil), according to two sources with direct knowledge of the flotation.

Felda Global Ventures IPO oversubscribed 6.75 times

The public portion of Felda Global Ventures Holdings Bhd's (FGVH) initial public offering (IPO) comprising 72.963 million shares was oversubscribed by 6.75 times.

Felda Global Venture institutional price fixed at RM4.55 (Update)

Felda Global Ventures Bhd's institutional price and the final retail price at RM4.55 and RM4.45.

Hopes of global response to Greek worries lift markets

European bourses and key regional markets were firmer on Friday, with the FBM KLCI rebounding more than eight points, as investors hope for a global response to Sunday's Greek elections.

Glenealy Plantations plans RM500m debt notes for expansion

Glenealy Plantations (Malaya) Bhd has proposed to issue up to RM500m in nominal value of medium term notes (MTN) to fund the group's future planting and expansion programmes.

N2N Connect confident of double-digit revenue growth

N2N Connect Bhd remains confident of maintaining double-digit revenue growth this year, having made RM20.7mil in 2011.

Khazanah to rake in RM4.9b in unrealised profit from IHH listing

The listing of Integrated Healthcare Holdings Sdn Bhd (IHH) next month will see the government's investment holding company, Khazanah Nasional Bhd, raking in RM4.9bil in the form of unrealised profit via the 62% stake held in the international health services provider company.

Maxwell to conclude acquisition of HK firm within this yr

Sport shoes manufacturer, Maxwell International Holdings Bhd, expects to conclude the acquisition of a Hong Kong-based firm within this year.

Global shares rise on plans for central bank support

LONDON: World shares rose and the euro hovered near a three-week high on Friday, lifted by central bank preparations for coordinated liquidity operations in the event of a credit shock after Sunday's Greek election.

Genting stocks lift KLCI, key markets up

Some mild fund buying of Genting Malaysia and Genting Bhd helped nudge the FBM KLCI higher at midday on Friday, in line with some of the key regional markets.

ECM Libra proposes capital repayment, including RM442m cash

ECM Libra Financial Group Bhd (ECMLFG) has proposed a capital repayment of RM442.64mil cash to its shareholders following the disposal of its investment banking business to K&N Kenanga Holdings Bhd in return for RM875.1mil in cash, stocks and loan stocks.

Wah Seong order book at RM1.2b, eyes more local O&G jobs

Pipe-coating specialist Wah Seong Corporation Bhd has replenished and maintained its order book at RM1.2bil of which oil and gas (O&G) accounts for RM727mil.

Kenanga buys ECM Libra's investment banking biz for RM875.1m (update)

K&N Kenanga Holdings Bhd is buying ECM Libra Investment Bank Bhd for RM875.1mil, of which RM659.61mil would be in cash and the rest in shares and loan stocks.

Glove makers up in early trade

Shares of glove makers Top Glove and Supermax Corp were among the major gainers in early trade on Friday on rising optimism for the industry following the softening latex prices.

UK floods banking system with more than 100 billion pounds

LONDON: The government and central bank will flood Britain's banking system with more than 100 billion pounds ($155.43 billion), seeking to pump credit through an economy struggling to escape recession under the "black cloud" of the euro zone crisis.

Pharmaniaga hits limit-up on trade resumption

Shares of Pharmaniaga Bhd hit limit-up in early trade on Friday, surging to RM6.48 after it resumed trading.

Maybank Research maintains Hold on Sime, TP of RM10.80

Maybank Investment Bank Research is maintaining its Hold recommendation on Sime Darby with an unchanged target price of RM10.80 based on 16 times calendar year 2012 price-to-earnings ratio (PER).

M&A Securities Research keeps Buy on Takaful, FV RM5.44

M&A Securities Research is maintaining its Buy call on Syarikat Takaful Malaysia with a fair value of RM5.44.

Global shares edge up as central banks stand ready to act

SINGAPORE: Asian shares edged up on Friday, and the euro held most of the previous session's gains, as nervous investors took comfort from plans for coordinated action by major central banks to stabilize markets if Sunday's election in Greece results in turmoil.

RHB Research maintains FV for Top Glove RM4.95, market perform

RHB Research Institute said Top Glove Corp’s third quarter 2012 (Q3, 2012) net profit of RM53.8ilm came in within its but above consensus expectations.

HDBSVR sees KLCI testing 1,580

Hwang DBS Vickers Research (HDBSVR) said the firmer overnight close on Wall Street could provide buying support for Asian equities and it sees a possibility the FBM KLCI may rise to 1,580 on Friday.

Dell made rival US$2.15bil cash bid for Quest

NEW YORK: Dell Inc is the "strategic bidder" that offered to buy Quest Software for US$2.15 billion in cash, trumping a bid by Insight Venture Partners, sources familiar with the matter told Reuters.

Wall Street rises on news central banks primed to act

NEW YORK: Stocks jumped on Thursday after news major central banks are preparing coordinated action if the results of Greek elections this weekend lead to turmoil in financial markets.

World economies prepare for panic after Greek polls(update)

WASHINGTON/BRUSSELS: Central banks from major economies stand ready to take steps, including coordinated action, to stabilize markets as world economies prepare for a possible financial storm or public panic after cliffhanger elections in Greece this weekend.

Tony Fernandes speaks to StarBiz on AirAsia's future plans

PETALING JAYA: Adieu Kuala Lumpur, welcome Jakarta! The big move has begun and Jakarta will be home for AirAsia Bhd after being based in Kuala Lumpur for a decade. It is growth beyond Malaysian shores which is tempting AirAsia.

Billionaire Ananda's Usaha Tegas among cornerstone investors in IHH US$2bil IPO

PETALING JAYA: Billionaire T. Ananda Krishnan’s Usaha Tegas group, Chua Ma Yu and the Employees Provident Fund (EPF) are some of the local players that have emerged as cornerstone investors for the US$2bil IHH Healthcare Bhd IPO.

Weaker pound spurring Takaful Malaysia to buy London properties

PETALING JAYA: Syarikat Takaful Malaysia Bhd has joined the bandwagon of Malaysian entities snapping up UK properties to take advantage of the weaker pound.

Gerbang Nusajaya, with RM18bil GDV, to be launched by end-year

KUALA LUMPUR: UEM Land Holdings Bhd will launch the 4,500acre Gerbang Nusajaya by the end 2012, which will have a gross development value of RM18bil. The project would be developed over 25 years.

Several allegations are thrown at MRT Corp and Prasarana over public rail projects

PETALING JAYA: The degree of clarity and tranparency for the tendering and bidding process for Malaysia’s rail public transportation has once again resurfaced.

Johor Corp issues RM3bil Islamic debt

JOHOR BARU: Johor Corp (JCorp) has issued an Islamic medium term notes programme (IMTN) under the syariah principle of Wakalah Bil Istitmar.

ITNL-Scomi shortlisted for India RM6bil rail job

NEW DELHI: India’s IL&FS Transportation Network Ltd (ITNL)-Scomi Engineering Bhd has been shortlisted to undertake Chennai’s 57km monorail project. The first-phase project is estimated to be worth RM6bil.

Siemens launches new green turbines

PETALING JAYA: German power house Siemens believes its newly launched gas turbine SGT5 8000H for the green energy generation field will be able to help Malaysia achieve its goal of cutting 40% CO2 emissions by 2020.

Stocks

Felda said to raise RM10.4bil from IPO

KUALA LUMPUR: Felda Global Ventures Holdings Bhd raised about RM10.4bil (US$3.3bil) in this year’s second biggest initial public offering after Facebook Inc, said three people with knowledge of the matter.

RHB acquires Luster shares

KUALA LUMPUR: RHB Bank Bhd has also emerged as a substantial shareholder in PN17 company Luster Industries Bhd with a 5.48% direct stake in the latter.

Pos Malaysia to diversify

KUALA LUMPUR: Pos Malaysia Bhd will be diversifying its income stream to reduce its dependency on the mailing business, according to group chief executive officer Datuk Khalid Abdol Rahman.

Expansion should boost QL results

QL RESOURCES BHD

Credit Suisse urged to halt payouts

ZURICH: The Swiss National Bank (SNB) urged Credit Suisse to improve its capital by halting dividends or issuing shares to raise cash to shield it from the risk of an escalation of the eurozone banking crisis.

Thai PTTEP to invest US$2.6bil in S-E Asia

BANGKOK: Thailand’s top oil and gas explorer, PTT Exploration and Production Pcl (PTTEP), plans to invest US$2.6bil in South-East Asia, mainly on Myanmar, over the next five years, and is on track to triple its production to 900,000 barrels per day (bpd) by 2020, its newly-appointed chief executive said.

New Esprit chairman upbeat despite share slump

HONG KONG: The new chairman of global clothing company Esprit said the business was healthy despite the sudden resignation of two of its top executives and a steep slump in its share price.

Tinkler seeks US$2.5bil debt for Whitehaven bid

SYDNEY: Australian coal magnate Nathan Tinkler, who has offered to buy out Whitehaven Coal, is trying to line up at least US$2.5bil in debt from banks including UBS and JPMorgan, two sources said.

Earnings

Genetec’s order book at RM149mil

KUALA LUMPUR: Engineering and design specialist Genetec Technolgy Bhd’s current order-book has strengthened to RM149.3mil following new orders amounting to RM36.9mil in worth.

Aviation

MASkargo to pay RM19mil fine to Australia

KUALA LUMPUR: Malaysia Airlines’ unit Malaysia Airlines Cargo Sdn Bhd (MASkargo) will pay A$6mil (RM19mil) as penalty following Australia’s Federal Court ruling over alleged price fixing.

Economy

Manufacturing sector sees better outlook in H2

PETALING JAYA: The Malaysian manufacturing sector expects business conditions to improve in the next six months despite concerns over external developments and the rising cost of production, said the Federation of Malaysian Manufacturers (FMM).

Energy

YTL chief calls for consistency in Asean energy policy

KUALA LUMPUR: YTL Corp Bhd group managing director Tan Sri Francis Yeoh urged Asean member countries to work on a transparent regulatory framework to facilitate the creation of an energy policy that is consistent across the region. This will enable its 600 million population to enjoy cheaper rates of utilities without relying on subsidies provided by some governments.

Ramunia unit wins RM177.5mil job

KUALA LUMPUR: Ramunia Holdings Bhd’s wholly-owned subsidiary Ramunia Fabricators Sdn Bhd (RFSB) has been awarded RM177.5mil worth of contracts by Sarawak Shell Bhd (SSB).

News

Sime to invest RM1.4bil to expand China port

WEIFANG : Sime Darby Bhd plans to invest RM1.4bil in the next three years to expand its port operations in Weifang, China.

Samsung to invest RM2.2bil in new plant in M'sia

SEREMBAN: Samsung SDI Energy Sdn Bhd, a unit of the Samsung Group Malaysia, will invest RM2.2bi l, over five years, to manufacture lithium ion cells and battery packs at its existing cathode ray tubes plant here, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.

Axis-REIT buying two buildings in PJ

KUALA LUMPUR : Axis Real Estate Investment Trust’s (Axis-REIT) trustee, OSK Trustee Bhd, has entered into two sales and purchase agreements to acquire Wisma Academy and the Annex in Petaling Jaya for RM85m il from Academy Resources Sdn Bhd.

Huawei set to help enhance Malaysia’s ICT training

CYBERJAYA: Huawei, a global leading ICT solution provider, expects to invest another RM90mil in the next few years to consolidate Malaysia’s position as a world-class ICT training hub.

Believe in your strategies, marketers told

KUALA LUMPUR: Business marketers need to have passion and a strong belief in their plans and strategies, said speakers at the Malaysian Chief Marketing Officer (CMO) conference.

Foreign News

Nokia plans to cut 10,000 more jobs(update)

PARIS: Nokia plans to cut 10,000 more jobs, bringing the total to one in three staff, as it loses market share to cellphone rivals Apple and Samsung and burns through cash, raising new fears over its future.

Merkel: ‘Germany’s powers are not unlimited’

BERLIN: German Chancellor Angela Merkel said the eurozone crisis would dominate next week’s G-20 summit but warned world leaders that her powers to act were limited.

Dimon rejects rules to block derivatives trading despite US$2bil loss last month

WASHINGTON: JPMorgan Chase chief Jamie Dimon insisted that his bank is solid and that there was no need for rules to block the derivatives trading that dealt it a shock US$2bil loss last month.

Mexico slaps conditions on Televisa-Iusacell tie-up

MEXICO CITY: Mexico imposed a host of conditions on broadcaster Televisa's bid to buy half of cell phone company Iusacell that one of the partners said were difficult to meet - a potential setback in their challenge to tycoon Carlos Slim's telecoms empire.

ANALYSIS-Drug costs become bigger issue in cancer care

New YORK: In the past, money was no object when cancer specialists considered which drugs would provide the best treatment for their patients.

WSJ: Microsoft to buy Yammer for more than US$1 billion

REUTERS - Business software company Yammer Inc has agreed to sell itself to Microsoft Corp for more than US$1 billion, the Wall Street Journal reported, citing a person familiar with the matter.

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