MAXIS, MAYBANK,MEDIA PRIMA,GADANG, ALLIANCE

Sri Lanka is inviting Maxis Communications Bhd and Telekom Malaysia Bhd (T MK, Buy, TP: RM3.54) to invest in itsUS$150m (RM525m) satellite project. Plans are in the pipeline to launch the nation’s first geostationary satellite after it signeda deal with UK-based Surrey Satellite Technologies Ltd last December. The director general of Sri Lanka’s Telecom RegulatoryCommission, Priyantha Kariyapperuma said that they have invited Maxis and Telekom Malaysia – who have already invested inSri Lanka. She added, “They have expressed interest and said they will invest if the project is commercially viable. Dialog, asubsidiary of Axiata Group Bhd (AXIATA MK, Hold, TP: RM3.13) is the top telecommunications service provider in Sri Lankawith the largest mobile network. Maxis became a major player on the island after parent company Usaha Tegas purchased alarge stake in Sri Lanka Telecom. (BT)
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Malayan Banking Bhd (Maybank) (MAY MK, Buy, TP: RM8.10) hopes to expand its network in Cambodia given theimproving economic conditions in the country and optimism on its growth prospects. The bank recently opened itsseventh branch in the Toul Kork district in Phnom Penh. The new branch would provide financial services to the Toul Korkdistrict consisting of affluent residences, government ministries, universities and commercial businesses. “The branch will meetthe banking needs of the community in the vicinity, focusing on the commercial and retail sectors” Maybank’s head ofinternational, Abdul Faid Alias, said in a statement yesterday. The latest branch expands Maybank’s international network toover 1750 offices located in Indonesia, Philippines, Singapore, Cambodia, Brunei, Vietnam, Hong Kong, Bahrain, Pakistan,Papua New Guinea and Uzbekistan as well as financial centres in New York and London. (Financial Daily)
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Media Prima Bhd (MPB) (MPR MK, Hold, TP: RM1.69) has 89.64% (194.72m shares) of New Straits Times Press(Malaysia) Bhd (NSTP) at the close of the acceptance period for its voluntary offer, a shade below the 90% level thatcould have given it a less cumbersome route to privatise NSTP. This is given that to privatise NSTP, it would need to attainshareholders’ approval to withdraw the latter’s listing status and there cannot be objection from shareholders holding more than10% of NSTP, listing rule say. Nonetheless, it is likely that this would only be a small bump for Media Prima given that it is onlysome 785,200 shares short of having 90% of NSTP, going by NSTP’s 217.23m share base as at Dec 22, 2009. There is theoption to acquire more shares from the open market, given that trading has not been suspended. (Financial Daily)
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Gadang Holdings Bhd submitted a RM300m bid to construct a 4km long runway for the RM2bn LCCT project. ManagingDirector Tan Sri Kok Onn said the firm expects to know if its tender is successful within the next two weeks. Kok also said thatGadang has also submitted a bid to Malaysia Airports Holdings Bhd (MAHB) to construct the terminal building at the new LCCTfor about RM1bn. WCT Bhd clinched the first package worth RM363m last year for works that include site preparation,earthworks and main drainage. Other companies which have submitted bids for the project are IJM Corp Bhd (IJM MK, Hold,TP: RM4.60), Ireka Corp Bhd, Fajarbaru Builder Group Bhd, Bina Puri Holdings Bhd, Sunway Holdings Bhd (SGW MK, Buy,TP: RM1.94) and Mudajaya Group Bhd. PJI Holdings Bhd, meanwhile is keen to provide mechanical and engineering servicesfor RM500m. The new LCCT located 1.5km from KLIA, is scheduled to be completed by third quarter 2011. It is expected tocater to 30m passengers yearly, with a capacity for up to 45m passengers yearly. (BT)
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Alliance Bank Malaysia Bhd, the flagship Malaysian bank of Temasek Holdings and the investment arm of theSingapore government, is believed to have placed several of its top managers on forced leave pending completion ofan informal internal investigation, people familiar with the matter said yesterday. Business Times (BT) understands that theofficials, who also include several branch level managers, were forced to go on leave just before Christmas, pendingcompletion of the investigation. Alliance Bank's assistant vice-president of group corporate affairs Agnes Ong Poh Choodeclined to comment on the matter. She also declined comment on queries that the bank's group CEO Datuk Bridget Lai hadtendered her resignation. Lai, headhunted by Temasek to lead the bank as group chief executive officer since September2005, had under her stewardship turned the bank around from a loss-making entity after it suffered a pre-tax loss ofRM243.37m in the year ended March 31 2006 into a profitable organisation. It is understood that there were no leakages at thebank itself and the crackdown is centred on purchase of shares in a public-listed company that was at the centre of a bitter coownershipstruggle as well as on the sale and leaseback of several multi-storey commercial buildings. (BT)