YTLPOWER,AXIATA, SUNWAY, AIR ASIA, PLUS

Wessex Water Ltd, subsidiary of YTL Power International Bhd (YTL MK, Buy, TP: RM2.5), is expected to start work on the ambitious project of rehabilitating the highly polluted Klang and Gombak Rivers in Selangor and treating the water to make it safe for drinking at the latest by early next year. It made a successful bid with I-Berhad for a portion of the entire project and will be working in the lower reaches of the Klang River, between Puchong and Shah Alam. Managing Director Gareth Jones said its portion of the project will cost between RM400m and RM600m. The entire project valued at about RM15bn will span 15 years. (BT)
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Axiata Group Bhd (AXIATA MK, Hold, TP: RM4.15) told Bursa Malaysia that the book-building process for the sale of a 20% stake in its Indonesian unit PT XL Axiata Tbk would start on Monday, Mar 22. “Axiata has determined an indicative price range of 3,000 to 3,300 rupiah per share for the purpose of approaching eligible institutional/sophisticated investors under the book-building exercise,’’ it said. Axiata currently owns an 86.5% stake in XL Axiata and could receive about RM2bn, assuming that all 1.7bn shares offered are sold at the higher end of the indicative price range. Axiata believes that through the book-building exercise, it can achieve a more representative pricing for the XL shares. (StarBiz)
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Sunway Holdings Bhd (SGW MK, Buy, TP: RM2.00) expects record profits in 2010 as it plans to tender for jobs worth up to RM16bn globally, said a top executive. The firm, ranked seventh among local builders with a market value of US$268m (RM884.4m) said its construction orderbook is expected to grow by one-third to RM4bn this year, partly boosted by the
Malaysian government's roll-out of public sector contracts. "Market conditions have improved
over the last six months and we are confident of securing some projects that we have tendered locally," managing director Yau Kok Seng said. (BT)
Perdana ParkCity Sdn Bhd has shortlisted seven companies to build a RM250m hospital in Desa ParkCity in Bukit Menjalara, Kuala Lumpur. They are Sunway Construction Sdn Bhd, unit of Sunway Holdings Bhd (SGW MK, Buy, TP: RM2.00), Crest Builder Holdings Bhd, Putra Perdana Construction Sdn Bhd, UEM Construction Sdn Bhd, Bina Puri Construction Sdn Bhd, Ahmad Zaki Construction Sdn Bhd and Japanese giant Obayashi Corp. Tenders will close this Friday and the contract will be awarded in April or May based on merits, technical expertise and track record. Construction will start by May or June and be completed in 2012. (BT)
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Low-cost carrier AirAsia Group (AIRA MK, Buy, TP: RM1.67) expects to carry some 27m passengers this year, up from the 24m passengers achieved last year. AirAsia group chief executive officer Datuk Seri Tony Fernandes said AirAsia, together with its long-haul affiliate, AirAsia X will be able to achieve 27m passengers as load factors remain strong and signs of economic recovery are underway. "We will use the new plane deliveries this year to continue driving our initiative of becoming a full-fledged Asean carrier this year," Fernandes said. (BT)
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PLUS Expressways Bhd, the country's largest toll highway operator, is eyeing more highway concessions in the Asia Pacific region as part of its expansion plans. Its managing director Noorizah Abd Hamid said the company is in talks with several countries in the region to build new highways or upgrade and maintain existing facilities. Noorizah cited Vietnam as a country with great potential due to its burgeoning population and surging economic growth. "We have the potential to go abroad either to be an equity holder of a concession, (participate) on a joint venture basis or start from scratch by building a new highway altogether," she added. (BT)