JIT News - Ramunia,UEM Land,Key West,TimeDotCom KPS/Puncak Niaga..7/1/2011

Ramunia: Sources say it is without a core business, is in talks to acquire Syarikat Borcos Shipping Sdn Bhd. It is said the negotiations have commenced, but it is not known how the acquisition will be concluded – via cash, shares or both. LTH is presently the largest shareholder of Borcos Shipping, holding 84% stake while other shareholders are AWH Equity Holdings Sdn Bhd which has 9% stake, Dayang Enterprise holds 6% and Vida Partners holds 0.8% stake. LTH holds 25.17% stake in Ramunia.

UEM Land : Credit Suisse expected UEM Land to become a blue c hip proxy for improved Singapore Malaysia relations, especially under the proposed transformation of its large landbank in Iskandar Malaysia . It had issued 217.049 million shares and 808.4656 million RCPS as the first batch of settlement for the Sunrise shares which it had acquired under the conditional takeover. These shares would be listed and quoted 07 Jan 2011 whilst the RCPS would not listed on any stock exchange. Some of the most conservative fund managers who currently would not consider owning UEM Land will, this time in 2012, have the stock as core holding. Tong was now heavily incentivized to deliver a turnaround at UEM Land . The market will upgrade its earnings forecasts as Tong delivers real property sales from his strategy. This will serve to enhance the credibility of RNACs.

Key West: It has seen the emergence of a new shareholder in Goh Mei Yuin, who acquired 9.13% stake in Key West . He is likely to purchased the share from its former controlling shareholders, the Yong family. Goh has also emerged as the largest shareholder in Baswell Resources Bhd in Sept 2010 with 14.9% stake. Goh as also XiDelang’s top 30 shareholders as at May 10 2010 with 0.39% stake. For the cumulative nine month period, Key West ’s net loss shrank to rm2 million from rm2.28 million. Its net assets per share for 9MFY2011 stood at 4 sen. It propsed a private placement in Nov 2010 to raise rm1.89 million. However three directors dispose their stakes a few days later. Two new independent directors were appointed and one of them also sits on the board of Baswell Resources as its senior independence non executive director. He (Dr Lai Chee Chuen) is also a former CRO of Seloga. Seloga is also in the midst of board room tussle.

TimeDotCom: KWAP disposed of 4.81 million shares of TimeDotComTIME on Dec 29 2010 and 30 2010 in the open market when the share price rallied following fresh corporate developments including its tie-up with Digi.com and Astro. KWAP sold two million Time dotCom shares on Dec 29, 2010 and 2.81 million shares the next day. The share price closed at 75.5 sen amd 77 sen. The disposals reduced KWAP’s shareholding to 7.62% or 192.83 million shares.

KPS/KHSB/Puncak Niaga/JAKS: Selangor today announced a new offer to the four water concessionaires in the state, Puncak Niaga (M) Sdn Bhd (PNSB), Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), Konsortium Abass Sdn Bhd and Syarikat Pengeluar Air Selangor Sdn Bhd (Splash). The state government has offered to takeover 100 per cent of their shares at a price of RM64.62 for PNSB, RM20.78 for Syabas, RM5.95 for Splash and RM9.39 for Abass.