Genting Mal: It is expanding its share buy back activities while at the same time committing fresh investment into gaming assets in the US and UK. As at Feb 8, 2011, total Genting Mal shares retained in the Treasury account amounted to 252.95 million shares, which is worth rm872 million. Genting Mal shares retained in the treasury account currently represented about 4.3% of the group’s total issued shares of 5.92 billion.
The group had said in Jan 26, 2011 that it intends to purchase up to a further 340.86 million of its shares within the next five months (Feb 2011 – June 2011). As at Jan 26, 2011 Genting had 4.24% of its shares in the treasury account. Such further purchase is expected to cost the group at least another rm1.7 billion, assuming if Genting’s shares do not fall from its current level, and its total treasury shares to the permitted 10% level.
Genting Mal: 2.40 (MBB), 3.40 (Kenanga), 3.54 (ECM), 3.05 (JP Morgan), 3.94 (Nomura), 3.40 (HDBS), 2.40 (MBB), 11.70 (Goldman Saches), 3.24 (OSK), 12.54 (UOB), 3.30 (Credit Suisse)
Tanco: It is still in negotiations with Lehman Brothers for the proposed settlement of an amount of rm314 million owed to the later. Tanco said talks with LBCC on the proposed settlement agreement are still ongoing and it would make the appropriate announcement should the company reach an agreement. The filing was in reply to an unusual market activities query by the Bursa . Earlier it was reported that Tanco may get a haircut on the rm314 million from its settlement with LBCC. However, Tanco did not mention a possible haircut from LBCC.
Pallete Multimedia is close to securing a contract from Telekom Malaysia Bhd (TM) to supply high speed broadband equipment for the latter's high speed broadband project (HSBB). HSBB is a flagship project of the National Broadband Initiative that aims to boost the country's competitiveness. The RM11.3 billion national HSBB project is a joint effort between TM and the government to develop next generation high speed broadband infrastructure and services for the nation.
Naim: Permodalan Nasional Bhd (PNB) has emerged a substantial shareholder in Naim Holdings Bhd, a Sarawak-based property and construction firm, after acquiring 12.5 million shares or a 5% stake. PNB paid RM3.40 per share for the stake from Naim managing director/chief executive officer Datuk Hasmi Hasnan on Jan 28 2011. With the divestment, Hasmi's stake (direct and indirect) in the company has been reduced to 22.86%. Naim's other local substantial shareholders included Lembaga Tabung Haji, Employees Provident Fund and unit trust funds. Foreign holdings in Naim are more than 12%. The shareholders include insurance and pension funds from Singapore , Australia , Europe and the United States .
MTD Capital: Its subsidiary MTD Manila Expressways Inc can proceed with the implementation of its 290% toll rate hike along the South Luzon Expressway in the Philippines after a motion seeking to restrain the hike was rejected by the Philippines Supreme Court. Manila Toll Expressways System is a 30% associate of MTD Manila Expressways and 40% associate of the Philippine National Construction Corp. South Luzon Tollway is an 80% subsidiary of MTD Manila Expressway
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