MEDIA,MAXIS,MAS

Media Prima Bhd (MPR MK, Hold, TP: RM1.69) is expected to revise upwards its offer for The New Straits Times Press(Malaysia) Bhd (NSTP) shares it does not own by improving the swap ratio. “They are upping the offer from its original oneMedia Prima share for every one NSTP share. The improved offer of 1.1 Media Prima shares for every one NSTP share willvalue NSTP at RM2.20 per share compared with RM2 previously. The revised offer could even go up to 1.2 Media Primashares for every one NSTP share. Regardless, the offer will be upped to at least RM2.20 per NSTP share,” said a source.Apart from a direct swap of shares, Media Prima in its proposal to privatise NSTP is also offering one Media Prima warrant forevery 5 NSTP shares held. In a further move to appease minority shareholders, sources said NSTP could also declare aspecial dividend. Media’s Prima’s proposed privatisation of NSTP is not well received by the minorities of the latter as it is lessthan half its book value and at 18.7% discount to its last traded price of RM2.46. (Financial Daily)

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Bursa Malaysia announced yesterday that Maxis Bhd (MAXIS MK, FV: RM6.10) will be eligible for fast entry into theFTSE Bursa Malaysia Kuala Lumpur Composite Index in accordance with the FTSE Bursa Malaysia Index groundrules. This is because Maxis’ full market capitalisation is expected to exceed 2% of the full capitalisation of the FTSE BursaMalaysia Emas index, it said in a statement. It said that several changes in the FTSE Bursa Malaysia Index series will takeeffect on Nov 20, subject to the listing of Maxis on Nov 19. On the changes, Bursa Malaysia said Maxis will be added to theFTSE Bursa Malaysia KLCI with a shares in issue total of 7.5bn and an investability weighting of 30%. Malaysian AirlineSystem Bhd (MAS) (MAS MK, Sell, TP: RM2.00) will be removed from the index, it said. (BT)

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Malaysia Airlines (MAS) (MAS MK, Sell, TP: RM2.00) is investing a total of RM480m in its Passenger Services System(PSS) over the next 10 years. “We believe that over a period of 10 years, this will provide us benefits worth over RM2bn,” saidmanaging director and CEO Tengku Datuk Azmil Zahruddin. “This is both in terms of revenue for customers due to theenhancement that we are providing as well as better efficiency that we expect to procure from the system,” he said. Theprogramme is divided into five streams – reservation, ticketing, departure control, revenue integrity, and fares management.The system had saved MAS more than RM300m last year. (Malaysian Reserve