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Reuters reported that sovereign wealth fund Khazanah is marketing a five-year US-dollar sukuk issuance. The report did not specify the amount that Khazanah intends to raise, but insiders reckon that the sovereign fund could be testing the market to see how much it could raise at rates amenable to it.  CIMB, DBS and Standard Chartered are lead managers for the deal.

Appetite for bonds

PETALING JAYA: Malaysian Government-linked entities are poised to raise billions of ringgit via US-dollar bonds, as appetite for such papers has increased amid hunger for yields and a more bullish outlook on the Malaysian economy, bankers said.

Ratings will also be determined by the oil firm’s opex, dividends and borrowings plan

Moody's review of Petronas' ratings to hinge on capex

PETALING JAYA: Moody’s Investors Service’s review of Petroliam Nasional Bhd’s (Petronas) rating will focus on whether the management plans any reduction in its capital expenditure (capex), operating expenditure and dividends.

“Under this phase, the first-ever world-class branded Twentieth Century Fox World theme park will see a substantial increase in investment with more spectacular, thrilling and state-of-the-art rides than previously announced,” said Genting.  This phase also will see the indoor theme park undergo a major transformation, offering a total of 18 rides from the existing nine.

Genting M’sia doubles spending to RM10bil

KUALA LUMPUR: Genting Malaysia Bhd will double the capital investment under the Genting Integrated Tourism Plan (GITP), which involves redeveloping and transforming Resorts World Genting, from the earlier-announced RM5bil to an estimated RM10.38bil.

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The first offering under the RM10.38bil GITP, the First World Hotel, began operations in June last year.

Resorts World Genting redevelopment to cost RM10.4bil

KUALA LUMPUR: Genting Malaysia Bhd will double the capital investment under the Genting Integrated Tourism Plan (GITP), which involves redeveloping and transforming Resorts World Genting, from the earlier-announced RM5bil to an estimated RM10.38bil.

23 February 2016 | 9:43PM |

Corporate News

SC turns down CLIQ Energy request for more time

KUALA LUMPUR: The Securities Commission has turned CLIQ Energy Bhd’s request for more time to acquire its qualifying asset and this will see it liquidating the company and returning the monies to the entitled shareholders.

24 February 2016 | 2:26PM |

Corporate News

The property development segment's profit before tax rose 6.5% last year, thanks partly to its De Centrum City development in Kuala Lumpur.

Protasco returns to profitability

KUALA LUMPUR: Protasco Bhd returned to the black in the financial year ended Dec 31, 2015, achieving earnings of RM66.24mil compared with a loss of RM46.44mil previously.

24 February 2016 | 5:59PM |

Corporate News

Dufu dissolves its executive committee

KUALA LUMPUR: Dufu Technology Corp Bhd has dissolved its executive committee, which was suspended eight months ago following a probe into allegations of remittance of the group’s funds to customers in the US and unbilled delivery orders.

24 February 2016 | 7:44PM |

Corporate News

Kumpulan Euro in the red in Q3

KUALA LUMPUR: Kumpulan Europlus Bhd, which is building the RM5.98bil West Coast Expressway, posted net losses of RM896,000 in the third quarter ended Dec 31, 2015.

24 February 2016 | 1:26PM |

Corporate News

Petronas Gas FY15 earnings up 7.8% to nearly RM2b

KUALA LUMPUR: Petronas Gas Bhd earnings rose to nearly RM2bil in the financial year ended Dec 31, 2015 boosted by a one-off recognition of deferred tax asset (DTA) while it expects its agreements and utilities to underpin its steady performance for 2016.

24 February 2016 | 7:14PM |

Corporate News

 MBSB's bottom line for 2015 was affected by its impairment programme, which will end next year.

MBSB slips into the red on impairment loss provisions

KUALA LUMPUR: Malaysia Building Society Bhd (MBSB) suffered a net loss of RM15.81mil in the fourth quarter ended Dec 31, 2015, compared with a net profit of RM393.07mil in the previous corresponding period, mainly due to allowances for higher impairment losses.

24 February 2016 | 10:27PM |

Corporate News

Yi-Lai diversifies into property development

KUALA LUMPUR: Local tile manufacturer Yi-Lai Bhd plans to diversify into property development, following a proposed reverse takeover (RTO) of the company by Penang-based property developer Aspen Vision Group.

24 February 2016 | 10:15PM |

Corporate News

The Gumusut-Kakap semi-submersible floating production system (pic) is on a 25-year lease.

MISC buys back 50% equity in Gumusut-Kakap for RM1.9bil

KUALA LUMPUR: MISC Bhd is buying back the 50% equity interest in Gumusut-Kakap Semi-Floating Production System (L) Ltd (GKL), the owner and lessor of Asia-Pacific’s first deepwater semi-submersible floating production system (semi-FPS), for US$445mil (RM1.9bil) in cash.

24 February 2016 | 9:24PM |

Corporate News

At Wednesday’s close, the FBM KLCI was down 13.11 points or 0.78% to 1,664.17. Decliners beat advancers nearly three to one with 601 losers to 229 gainers, and 303 stocks were unchanged.

Bursa highlights for Wed, Feb 24

Companies that made notable announcements to Bursa Malaysia on Wednesday included CLIQ ENERGY, DUFU, KUMPULAN EUROPLUS, MALAYSIA BUILDING SOCIETY BHD, MISC, PETRONAS GAS, PROTASCO, SIME DARBY, and TELEKOM MALAYSIA.

24 February 2016 | 7:52PM |

Corporate News

Dufu dissolves its executive committee

KUALA LUMPUR: Dufu Technology Corp Bhd has dissolved its executive committee, which was suspended eight months ago following a probe into allegations of remittance of the group’s funds to customers in the US and unbilled delivery orders.

24 February 2016 | 7:44PM |

Corporate News

Petronas Gas FY15 earnings up 7.8% to nearly RM2b

KUALA LUMPUR: Petronas Gas Bhd earnings rose to nearly RM2bil in the financial year ended Dec 31, 2015 boosted by a one-off recognition of deferred tax asset (DTA) while it expects its agreements and utilities to underpin its steady performance for 2016.

24 February 2016 | 7:14PM |

Corporate News

The property development segment's profit before tax rose 6.5% last year, thanks partly to its De Centrum City development in Kuala Lumpur.

Protasco returns to profitability

KUALA LUMPUR: Protasco Bhd returned to the black in the financial year ended Dec 31, 2015, achieving earnings of RM66.24mil compared with a loss of RM46.44mil previously.

24 February 2016 | 5:59PM |

Corporate News

SC turns down CLIQ Energy request for more time

KUALA LUMPUR: The Securities Commission has turned CLIQ Energy Bhd’s request for more time to acquire its qualifying asset and this will see it liquidating the company and returning the monies to the entitled shareholders.

24 February 2016 | 2:26PM |

Corporate News

Kumpulan Euro in the red in Q3

KUALA LUMPUR: Kumpulan Europlus Bhd, which is building the RM5.98bil West Coast Expressway, posted net losses of RM896,000 in the third quarter ended Dec 31, 2015.

24 February 2016 | 1:26PM |

Corporate News

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