JIT News - SP Setia,Maxbiz,Opcom,Ramunia/BLD 3/1/2011

PNB was mum on speculation of mergers among its property companies or the relisting of its wholly-owned property group Island & Peninsular Group Sdn Bhd (I&P), SP Setia.

Maxbiz Corp Bhd has put a bid of RM8.8mil to acquire 95% stake in PT Jasa Medivest (PTJM) from Pantai Medivest Sdn Bhd. Of the total, RM3.3mil would be paid in cash and RM5.5mil in shares where the outcome of the bid was expected to known by early February 2010. Gomez & Co were mandated to undertake a revised assessment for Bursa Securities on whether Maxbiz had triggered the PN17 classification. The report was required by Dec 17, 2010, but an extension until 27 Dec 2010 was granted. Whether this report has been concluded or whether Maxbiz is indeed a PN17 counter, is not known. Now, while Maxbiz has an asset that could set it on the path of revival, it still needs to resolve its PN17 status before it can move forward.

Opcom: Any positive developments in the HSBB project and more importantly is able to develop new export markets going forward could mean a potential re rating for Opcom.

Ramunia/BLD Plantation : The private held company Coral Alliance Sdn Bhd (Link to BLD Plantations) was earlier reported to be in talks to partner Ramunia Holdings Bhd, but whether the tie up has been firmed up is unclear. Ramunia CEO Nor Badu Munawir Mohamad could be reached for comment.