08 December 2011
Pavilion REIT: Seeks expansion. CEO Philip Ho of Pavilion REIT Management Sdn Bhd, the largest retail REIT in Malaysia, said the trust is seeking opportunities to expand its assets in Penang, Johor and the Klang Valley. It was also said that the company's trustees had signed three rights of first refusal (ROFR) to acquire Farenheit88, the Pavilion Mall's extension, and a mall in USJ Subang Jaya. (Source: Business Times)
Toyoink: Gets nod for R&D on USD2.5b Viet power plant. Ink manufacturer Toyoink Group Bhd has been given the green light by the Vietnamese government to conduct R&D on a proposed USD2.5b (RM7.8b) thermal power plant in the country. Named the Song Hau 2 thermo power plant, it is slated to have a capacity of 2x1000 MW and will be located at the Song Hau power centre in Hau Giang province. (Source: The Edge Financial Daily)
DRB Hicom: DRB Hicom, Volkswagen likely to have a share control in Proton. DRB Hicom Bhd's bid for control over Proton Holdings is likely to include the presence of Volkswagen AG at a later stage according to a reliable source. DRB Hicom's plan is to first secure a controlling block in Proton and subsequently divest some of its equity to Volkswagen resulting in both parties sharing control. (Source: The Star)
Bumi Armada: To get USD300m loans. Offshore oilfield services provider Bumi Armada Bhd will sign agreements for financing facilities exceeding USD300m (RM936.69m) today. The agreement is with several financial institutions, which are not named in the note. (Source: The Star)
Sanichi: Ties up with FIRC. Precision mould fabricator Sanichi Technology Bhd is forming an alliance with FIRC Trade (M) Sdn Bhd to venture into the business of mining and supplying minerals. The joint venture was currently on "paper terms" and investment is yet to be decided. It was also said that the amount of investment in the joint venture would be decided upon its first business received from the partnership. (Source: The Star)
Media: The Malay Mail to hit the streets in the morning. The Malay Mail will hit the streets as a mainstream morning national newspaper starting January. It promises a good read, including investigative reporting on issues of concern to readers, led by its editor (news) Terence Fernandez. (Source: Malaysian Reserve)
(Information from MBB)
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