Company Announcement: KARAMBUNAI CORP BHD

Proposed Disposal to PTB Horticulture Farm Sdn Bhd, a wholly-owned subsidiary company of Petaling Tin Berhad, of approximately 8,201.86 square metres of leasehold land in Petaling Jaya together with a four storey office building with an annexed single storey warehouse and ancillary building (“Property”) for a cash consideration of RM12.0 million ("Proposed Disposal")

Further to our announcement on 7 December 2007, the Board of Directors of Karambunai Corp Bhd wishes to announce that PTB Horticulture Farm Sdn Bhd (“PHFSB” or “Purchaser”) has made a notification to the Foreign Investment Committee on 12 February 2008 for the Proposed Disposal. This announcement is dated 12 February 2008.

(KLSE 12-2-2008)

Company Announcement PERBADANAN MEMAJUKAN IKTISAD NEGERI TERENGGANU

PROPOSED ACQUISITION OF TWO PIECES OF LAND FROM PERBADANAN MEMAJUKAN IKTISAD NEGERI TERENGGANU (“PROPOSED LAND ACQUISITION”)

Eastern Pacific Industrial Corporation Berhad and its subsidiary, namely Pangkalan Bekalan Kemaman Sdn Bhd had on 12 February 2008 entered into two separate Sale and Purchase Agreement (“Agreements”) with Perbadanan Memajukan Iktisad Negeri Terengganu (“PMINT” or “Vendor”) to acquire two pieces of land (collectively “the Land”) Read More

(KLSE 12-2-2008)

GIL secures RM9.6b loan for S’pore resort

KUALA LUMPUR: Genting International PLC (GIL), the foreign investment arm of Genting Bhd, has secured close to S$4.2 billion (RM9.6 billion) for its S$6 billion integrated resort in Singapore’s Sentosa Island. In an announcemment to the Stock Exchange of Singapore yesterday, GIL said the syndicated senior secured credit facilities obtained via its indirect wholly owned Resorts World at Sentosa Pte Ltd (RWS) comprised S$4 billion in loans, and a S$192.5 million banker’s guarantee scheme. DBS Bank, Oversea-Chinese Banking Corp, Hongkong and Shanghai Banking Corp, Royal Bank of Scotland, and Sumitomo Mitsui Banking Corp are the lead arrangers, underwriters and bookrunners for the facilities sponsored by GIL. “The facilities are not expected to have any material effect on the earnings per share and net tangible assets per share of the company (Genting International) and its subsidiaries for the current financial year,” GIL managing director Justin Tan Wah Joo said.

(The Edge 12-2-2008)

Tasco buys warehouse for RM2.5m

KUALA LUMPUR: Trans-Asia Shipping Corporation Bhd (Tasco) has bought a warehouse/ factory building on a freehold land in Sungai Way Industrial Free Trade Zone, Selangor for RM2.5 million cash. Tasco said yesterday it had acquired two shares of RM1 each representing a 100% interest in the property’s owner Maya Kekal Sdn Bhd. It said the purchase would not have any effect on its earnings for the financial year ending Dec 31, 2008. Read More

(The Edge 12-2-2008)

Malaysia launches billion$ Sarawak development plan

MALAYSIAN Prime Minister Datuk Seri Abdullah Ahmad Badawi has launched a development project worth nearly US$100 billion to fuel growth in resource-rich Sarawak.Abdullah said the government would spend an initial RM5 billion (US$1.54 billion) to kickstart the Sarawak Corridor of Renewable Energy, with private investment targeted at RM300 billion (US$93 billion).The Sarawak plan — the last of five regional economic blueprints being rolled out — focuses on developing the state’s energy resources of hydropower, coal, natural gas and petroleum.“The development, distribution and consumption of energy is a core element leading to the success of the Sarawak Corridor,” Abdullah said at the launch.The premier said the project aims to bring economic growth and eradicate poverty in the predominantly rural state by 2030, by creating some 800,000 jobs and luring billons in private investment.“It’s not going to be less than RM300 billion (ringgit). It’s a huge amount but it involves large developments in various fields ... in Sarawak, which is a very large (state),” he said. Read More

(New Straits Times 12-2-2008)

IOI Properties set to unveil project in IDR

JOHOR BARU: IOI Properties Bhd will launch a mixed property development along the North-South Expressway (NSE) in Kempas. General manager (property division) Simon Heng said Taman Kempas Utama would be launched by the second quarter of the year. We plan to offer high-end doublestorey link houses with gated and guarded and smarthome concepts« SIMON HENGHe said the project, on a 101.171ha, would have 2,000 residential and commercial units. Of the land, 20.2ha will be allocated for light industrial buildings. “It is timely for us to have a project in the Johor Baru district after our success in the ongoing Bandar Putra Kulai project,’’ Heng told StarBiz in a telephone interview. Read More

(The Star 12-2-2008)

Plan for biggest property IPO

The property arm of the Naza Group, TTDI Development, plans to list its shares on the main board of Bursa Malaysia in the third quarter of 2008 TTDI Development Sdn Bhd, well-known for its Taman Tun Dr Ismail township in Kuala Lumpur, is set to launch Malaysia's biggest property initial public offering (IPO) this year, its top official says. The property arm of the Naza Group, TTDI has hired CIMB Investment Bank Bhd to arrange the IPO and listing. "The IPO targets a market capitalisation of at least RM850 million," TTDI group managing director Datuk Johan Ariffin told Business Times in an interview recently. Read More

(New Straits Times, 12-2-2008)

Foreign investors keen on Encorp

PETALING JAYA: Talk has surfaced in the market that foreign investors are eying Encorp Bhd for either a strategic stake in the company or to purchase from the company its prized assets. A source told StarBiz that negotiations were under way and that the parties interested in taking up a block of shares in Encorp were linked to Middle Eastern investors. Another proposition was foreign interest to purchase Encorp's properties, the source added. Encorp group chief executive officer Yeoh Soo Ann, when contacted, said he was “not aware” of any Middle Eastern interest in the company. Read More

(The Star 12-2-2008)