Govt: Toll Rates For Kesas, LDP, Sprint and Smart To Remain Unchanged Till Concession Expires
With the major restructuring of tolled highways made by the Government, Kesas, LDP, Sprint, and Smart have been proposed to be acquired by Amanat Lebuhraya Rakyat Berhad which has the government’s mandate to take over the highways and operate them as non-profit, Prime Minister Ismail Sabri announced that these highways will not see toll hike until their concessions expire. To read the full story click here
Gamuda Likely to Accept Offer from ALR With Its Share Target Price Of RM4.25
CGS CIMB has made an “Add” call on Gamuda Bhd with a target price of RM4.25 and believes that the RM5.5 billion offer to Gamuda to take over all of its four highway assets by Amanat Lebuhraya Rakyat Bhd (ALR) would be accepted by Gamuda.
It said that Gamuda’s share of the estimated equity value of RM4.4 billion (cash consideration and other adjustments) for all four highways is RM2.3bn; this is slightly lower (by 1%) compared to the previous equity value of RM2.35billion (imputed in our RNAV calculations for each highway asset). “This cash offer translates into 91 sen/share, or 26% of Gamuda’s market capitalization. Estimated net disposal gain: RM1billion,” it said. To read the full story click here
Geopolitical Uncertainty to Add Pressure on Growth Prospects and Inflation: KPMG Global Economic Outlook
According to the latest KPMG Global Economic Outlook, the on-going geopolitical crisis in Ukraine is set to lower global growth prospects and increase inflationary pressures across the world
This report, published bi-annually, provides economic forecasts and analysis from the global organization’s team of economists in territories and regions throughout the world. The latest edition which covered H1’2022, warns progress on global issues including public health and climate change has slowed as political and business leaders grapple with the broad implications of the war in Ukraine. To read the full story click here
MITI Issues 2 Year Moratorium For Paper Manufacturing License
Following the Federal Government Gazette on 7 January 2022 regarding the Guidelines for Importation and Inspection of Waste Paper, the Ministry of International Trade and Industry (MITI) has announced the implementation of 2- a year moratorium, for Manufacturing License (ML) issuance for new, expansion, diversification, and regularization, as well as ‘Confirmation letter for company, exempted from ML’ (ICA10) under ICA 1975, for paper manufacturing activities.
MITI said the Government is cognisant that the paper industry is facing a substantial overcapacity situation for all types of paper products and the country has seen an increasing amount of waste paper imports since 2018. The moratorium, it added will allow the Government to manage and monitor the importation of waste paper by existing ML holders under the Guidelines for Importation and Inspection of Waste Paper and ensure sustainable development for the domestic industry. To read the full story click here
Bank Negara Gives MBSB Green Light To Aquire MIDF From PNB
Malaysian Building Society Bank has received a no-objection letter from the Central Bank on its proposal to acquire MIDF from Permodalan Nasional Berhad.
MBSB has shared its interest in the possibility of undertaking an acquisition of the 100% shareholding in Malaysian Industrial Development Finance Berhad (“MIDF”) which is held by PNB. To read the full story click here
LKTM Exiting The Egg Industy And Looks To Invest RM336 Million Into EMS Business
LTKM BERHAD a leading chicken egg producer has announced a composite proposal, chiefly to divest the Company’s existing business and venture into the business of providing electronic manufacturing services (“EMS”) while at the same time, rectifying its non-compliance with the public spread requirement of its shares under the listing requirements of Bursa Securities Malaysia Berhad.
Executive Chairman of LTKM, Datuk Tan Kok said, “At its core, the proposals seek to reward our shareholders from the proceeds of the disposal of the Company’s existing poultry business while at the same time, allow them to continue participating in the new EMS business following the proposals.” To read the full story click here
MNHB To Raise RM17.2 Million From IPO To Expand Business
Underground utilities and substation engineering specialist MN Holdings Bhd expects to raise RM17.2 million under its listing on the ACE Market of Bursa Malaysia Securities Bhd for business expansion.
The Company plans to use RM5.84 million (34.0%) raised from the initial public offering (“IPO”) to purchase various types of machinery and equipment over the next two years to support its business expansion for the underground utilities and substation engineering services and solutions segments. To read the full story click here
