CIMB, IOI,ASTRO,PROTON

CIMB: Well capitalised to support overseas units
CIMB Group Holdings Bhd (CIMB MK, Buy, TP: RM15.25) will not need to raise capital even if it were to inject equity into its subsidiaries in Indonesia and Thailand, as the Malaysian banking group is well capitalised, said its group CEO Datuk Seri Nazir Razak. He said the banking group had a total risk-weighted capital ratio in excess of 15% currently and hencewas in a comfortable position to support its overseas subsidiaries PT Bank CIMB Niaga and CIMB Thai Bank. "Both CIMB Thai and Niaga also have ample capabilities to fund their operations via bonds as opposed to equities," Nazir said. (Financial Daily)
CIMB Group Holdings Bhd (CIMB MK, Buy, TP: RM15.25) has applied for new banking licences in Vietnam and Cambodia in a bid to strengthen its regional presence. The group already operates in Indonesia, Thailand and Singapore. "That's all for the moment, but CIMB does have strategies for all other Asean markets," group chief executive Datuk Seri Nazir Razak
said when asked if the group planned to expand to other countries. (BT)( will it be too late to buy now?)
××××××
IOI: Unilever has no plans to end supply contract
Unilever says it will not cancel palm oil supply contracts with IOI Corp Bhd (IOI MK, Hold, TP: RM5.21) and that it is confident the planter will address concerns over logging forests raised by a green group. IOI had dismissed the report by Friends of the Earth that it cleared rainforests on Borneo Island to expand, saying the allegations were inaccurate. "We believe IOI is a very responsible supplier and are confident that if there is truth in the current allegations, IOI will address them," Unilever head of sustainability Jan-Kees Vis said in an e-mailed response. (BT)

××××××
Astro’s wholly owned subsidiary, Measat Broadcast Network Systems Sdn Bhd (MBNS), has successfully migrated to the Communications and Multimedia Act 1998 (CMA) licensing regime. In a statement to Bursa Malaysia, Astro said it had secured new licences from the government for new content applications service provider, network service provider and network facilities provider under the CMA. Astro said the migration was on “terms that are no worse off to MBNS” and did not have any material effect on the business and operations of the group. (Financial Daily)
×××××××
Proton: Government will not divest Proton to foreign companies
The government has no intention of divesting its equity in Proton Holdings Bhd as it does not want the national car manufacturer to be controlled by foreign parties. Deputy Finance Minister Datuk Chor Chee Heung said Proton was currently negotiating assembly and product joint venture possibilities with several original equipment manufacturers. However, he said the discussions did not involve equity participation but a strategic partnership to enable Proton to
become more innovative, domestically and internationally. (Malaysian Reserve)
××××××
Bolton: Acquired land in Jalan Peel for RM39m
Bolton Bhd entered into a deal with Intrapuri Sdn Bhd to acquire a piece of land in Jalan Peel, Kuala Lumpur for RM39m cash. It will develop medium high-end service apartments on the 2.2ha property, with an estimated gross development value and gross development cost of RM280m and RM220m respectively. Development of the property is expected to commence on completion of the proposed acquisition and after obtaining all the approvals from relevant authorities, with an estimated development period of five years. (BT)