sapura crest, MAHB, , BCHB,KLKEPONG

SapuraCrest Petroleum Bhd (SCRES MK, Hold, TP: RM1.32) has teamed up with GE Oil & Gas (GEOG), a unit of USbased global industrial conglomerate General Electric (GE) to further expand and enhance its 7-year-old service centre for the regional oil and gas industry. The group had entered into an agreement with GEOG last month via its subsidiary Sapura Power Services Sdn Bhd, to further improve the centre’s capabilities. Under the deal, the service centre will use the most advanced service and repair technologies from GEOG to maintain, repair and refurbish heavy industrial gas turbines and its components. (NST)

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Malaysia Airports Holdings Bhd (MAHB), which has been at loggerheads with AirAsia Bhd (AIRA MK, Buy, TP: RM1.90) over the timeline for the completion of the new low-cost carrier terminal (LCCT), said yesterday the terminal would be ready by 2011, dispelling any notions of a possible delay. AirAsia, on its part, said that if that was the case, it would stick to and may even accelerate its fleet expansion plans. “We are only contemplating the deferment for 2011, we have not confirmed. We may even accelerate the delivery of Airbus A320s if the LCCT is ready on time,” AirAsia group chief executive officer Datuk Seri Tony Fernandes said. (Financial Daily)

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Bumiputra-Commerce Holdings Bhd’s (BCHB MK, Hold, TP: RM8.80) subsidiary CIMB Islamic Bank Bhd (CIMB) has extended a RM1.5bn loan to the National Higher Education Fund Corporation (PTPTN). CIMB was also PTPTN’s repayment agent, via its bank branches and online banking portal, in addition to being its agent for the opening of accounts and
deposit-taking for the National Education Savings Scheme. Total repayments collected via CIMB amounted to RM232m which makes CIMB’s deposit taking for SSPN the highest among SSPN agents. (Financial Daily)

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Kuala Lumpur Kepong (KLK) Bhd’s (KLK MK, Sell, TP: RM10.40) unit PT Steelindo Wahana Perkasa (SWP) is buying 95% of PT Bumi Makmur Sejahtera (BMS) for RM2.3m to further increase its oil palm plantation area in Indonesia. KLK expects the acquisition to be completed in 1Q10, subject to the fulfilment of all conditions stated in the sale and purchase agreement.( financial daily )