TM, PETRA, BJ CORP

TM: Has spent RM1.9bn on HSBB so far
Telekom Malaysia Bhd (TM) (T MK, Hold, TP: RM3.54) has spent about RM1.9bn and the government some RM900m to date in rolling out the high-speed broadband (HSBB), group chief executive officer Datuk Zamzamzairani Mohd Isa said. TM is putting in RM8.9bn while the government is contributing RM2.4bn on an incurred claims basis based on project milestones reached by TM in the RM11.3bn project. “We are expecting to get about 750,000 premises passed by end of this year,” he said adding that physical work for 44 out of 95 exchanges nation wide would be completed by year end. (Malaysian Reserve)
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Petra Perdana: Gets nod for workboat funding
Petra Perdana Bhd (PETR MK, Sell, TP: RM1.18) said funding for a 169-crew workboat named Petra Sovereign has been approved. Executive director Shamsul Saad said in a statement the RM49m financing would cover 80% of the purchase price and the repayment was expected to be within 5 years. “The vessel, which is part of our fleet renewal programme, will be used in Malaysian waters for brownfield maintenance services,” he said, adding that the fleet renewal was on track to be completed by year-end. (StarBiz)

Berjaya Corp: Will assemble BYD cars elsewhere if necessary
Berjaya Corp Bhd (BCorp), which has won a deal to assemble the Chinese marque BYD for the Asean market, says it will manufacture the cars elsewhere if the group could not obtain the manufacturing licence locally. “The government has to think properly whether they want it here, because Malaysia needs more investment,” said BCorp chairman and CEO Tan Sri Vincent Tan. There is currently a freeze on new manufacturing licences for the production of petrol-powered vehicles below 1.8litres. “We think we have a strong case with very compelling economic reasons for the government to grant us the approval,” he added. The company hopes to assemble a mix of small and medium-sized cars. (Financial Daily)

Berjaya Retail: To be listed either in June or July
Berjaya Retail Bhd (BRetail) will be listed either June or July this year with the exercise raising RM50m for future expansion, said Berjaya Group chairman and CEO Tan Sri Vincent Tan. He said the listing, which initially targeted for the first quarter of the year, was delayed to enable to synchronise the fiscal year-end of Singer (M) Sdn Bhd and 7-Eleven (M)
Sdn Bhd. Pursuant to the listing, Berjaya Corp Bhd (BCorp) would sell Singer to BRetail for RM360m and 7-Eleven for RM600m. The number of BRetail shares to be distributed would range from 337.6m to 471.9m depending on BCorp’s share capital. (Financial Daily)