TENAGA, BCHB, BOUSTEAD

Tenaga Nasional Bhd (TNB) (TNB MK, Hold, TP: RM7.00) and Sarawak Energy Bhd (SEB) signed a share sale agreement with Sime Darby Energy Sdn Bhd (SDESB) in relation to their acquisition of 100% interest in Sime Darby Power Link Sdn Bhd (SDPLSB). The purchase consideration was RM15.6m plus an adjustment amount to cater for additional cash advances made by SDESB to SDPLSB being payment for consultants before the completion of the deal. TNB and SEB will each hold 50% of the issued and fully paid-up capital of SDPLSB, while it is also intended that the Minister of Finance Inc participate in the equity of SDPLSB at the appropriate juncture. (Starbiz)

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CIMB Bank has issued 667m new shares to Bumiputra Commerce Holdings Bhd (BCHB) (BCHB MK, Hold, TP: RM8.80) to pay off debt. The new CIMB shares were issued to settle the coupon payments and principal on the RM667m irredeemable convertible unsecured loan stocks (ICULS) which are due and payable to BCHB, it said in a filing with the stock exchange. (BT)


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Boustead Holdings Bhd’s (BOUS MK, Hold, TP: RM3.60) plan to raise some RM729.1m in a rights issue has been approved by the Securities Commission. In a filing to Bursa Malaysia on Friday, Boustead said it plans to issue 260.4m new shares at the ratio of two rights shares, at RM2.80 each, for every five ordinary shares held. (BT