Stockwatch

UTUSAN Melayu shares rocketed to a 20-month high of RM1.96 last Friday, buoyed by speculation that tycoon Tan Sri Syed Mokhtar Albukhary had bought a 20% stake in the Malay-language newspaper firm. Utusan Melayu made a restricted offer of 31.8 million shares for Nilam Setar Sdn Bhd, which Reuters said belonged to Syed Mokhtar, and Utusan's 58.3% shareholder Umno. Nilam Setar had subscribed to 21.8 million new shares. Utusan shares soared 57% or 71 sen last week; the sharp rise had apparently presented an opportunity for shareholders to unload positions at a hefty profit.  

MMC: IT is believed that the conglomerate intends to up its stake in Port of Tanjung Pelepas (PTP). MMC Corp, which already holds 50.1% stake in PTP, is planning to buy the remaining 19.9% interest held by Seaport Terminals (Johor) Sdn Bhd. The acquisition is seen to benefit the group’s earnings in the long term, given the increasing container traffic at the port. It is reported that PTP is currently in talks with giant French liner Compagnie Maritime D'Affrement Compagnie Generale Maritime, which is West Port's largest client, to use the port in Pasir Gudang.  

Genting: DOES the Genting group want to source more income from the power generation business? Genting Sanyen Power Sdn Bhd said it was looking for more power assets in India after it took over NRGenerating Holdings, which has 30% in Lanco Kondapalli Power Pte Ltd, owner of a 368-megawatt power plant in Hyderabad. The purchase is expected to enhance earnings for the power division. Analysts said it was hard to quantify the impact due to scant information given on the power plant. Power generation contributes about 18% of the group's pre-tax profits. 

Celcom: DEUTSCHE Telekom AG, which had voted against the merger between Celcom and Telekom Malaysia's mobile unit, has ceased to be a major shareholder in Celcom Bhd. DeTeAsia Holding GmbH, a unit of Deutsche Telekom, had opted to sell its 158.47 million shares to Telekom, which is undertaking a mandatory general offer exercise to buy up Celcom shares at RM2.75 per share. Europe's largest telco, which was also Celcom's technical partner, had earlier terminated technical assistance and training agreements with Celcom. And four Deutsche Telekom directors had resigned from the Celcom board. 

Atlan: WHAT has attracted Atlan to take up a stake in Naluri Bhd at such a high price? Atlan is bidding for a 32% stake in Naluri at RM1.98 per share, compared with the market price of RM1.27, and plans to inject PN4 company Sriwani Holdings Bhd into Naluri. If Atlan wins the bid, it will utilise RM240mil of Naluri's cash pile to buy 52% in Sriwani and the company's assets from creditor banks. Atlan dismissed talk that it would be using Naluri's cash coffers to pay off Sriwani's debts, which include RM649.9mil in short-term borrowings. Sriwani is currently restructuring its debts. 

MMC: IT is believed that the conglomerate intends to up its stake in Port of Tanjung Pelepas (PTP). MMC Corp, which already holds 50.1% stake in PTP, is planning to buy the remaining 19.9% interest held by Seaport Terminals (Johor) Sdn Bhd. The acquisition is seen to benefit the group’s earnings in the long term, given the increasing container traffic at the port. It is reported that PTP is currently in talks with giant French liner Compagnie Maritime D'Affrement Compagnie Generale Maritime, which is West Port's largest client, to use the port in Pasir Gudang.  

Genting: DOES the Genting group want to source more income from the power generation business? Genting Sanyen Power Sdn Bhd said it was looking for more power assets in India after it took over NRGenerating Holdings, which has 30% in Lanco Kondapalli Power Pte Ltd, owner of a 368-megawatt power plant in Hyderabad. The purchase is expected to enhance earnings for the power division. Analysts said it was hard to quantify the impact due to scant information given on the power plant. Power generation contributes about 18% of the group's pre-tax profits. 

Celcom: DEUTSCHE Telekom AG, which had voted against the merger between Celcom and Telekom Malaysia's mobile unit, has ceased to be a major shareholder in Celcom Bhd. DeTeAsia Holding GmbH, a unit of Deutsche Telekom, had opted to sell its 158.47 million shares to Telekom, which is undertaking a mandatory general offer exercise to buy up Celcom shares at RM2.75 per share. Europe's largest telco, which was also Celcom's technical partner, had earlier terminated technical assistance and training agreements with Celcom. And four Deutsche Telekom directors had resigned from the Celcom board. 

Atlan: WHAT has attracted Atlan to take up a stake in Naluri Bhd at such a high price? Atlan is bidding for a 32% stake in Naluri at RM1.98 per share, compared with the market price of RM1.27, and plans to inject PN4 company Sriwani Holdings Bhd into Naluri. If Atlan wins the bid, it will utilise RM240mil of Naluri's cash pile to buy 52% in Sriwani and the company's assets from creditor banks. Atlan dismissed talk that it would be using Naluri's cash coffers to pay off Sriwani's debts, which include RM649.9mil in short-term borrowings. Sriwani is currently restructuring its debts.