KFH plans financing initiatives for ECER

KUWAIT Finance House (Malaysia) Bhd is in discussions with Terengganu's state investment company, Terengganu Inc, and its related companies on financing initiatives within the East Coast Economic Region (ECER). "We have looked into specific financing opportunities for some of the related companies, ranging from infrastructure, oil and gas, shipping, plantation/agriculture and IT (information technology)," said its managing director Datuk Salman Younis. "So far, all of the discussions are focused on financing," he said in a statement yesterday.On plans for retail branches within the ECER, Younis said the Islamic bank will evaluate the feasibility based on the success of its corporate, investment and commercial businesses there. He said the bank was currently involved in the financing of a flight training school and garment manufacturer, both in Kota Baru.Kuwait Finance House, one of the largest Islamic banks in the world, has embarked on several projects, including establishing a find investing about US$330 million (RM1 billion) for projects in the Iskandar Development Region.The ECER master plan envisaged Terengganu as a tourism gateway, hub for oil, gas and petrochemical industries, centre of educational excellence and agriculture focused on goat rearing and as a citrus valley.Kelantan will become centre of trading, human capital development, educational excellence as well as poultry and herbal cultivation.Pahang will focus on manufacturing and becoming a port city with integrated logistics distribution centre and palm oil industrial cluster as well as cattle and pineapple, while Mersing in Johor will be developed for tourism.

(Bernama 20-3-2008)

SC relaxes minimum landbank rule

Property development companies seeking listing are no longer required to have a minimum landbank of 500 acres (202 ha) under the Securities Commission’s (SC) latest equity guidelines, which come into effect today. The SC said the new and revised guidelines were part of its efforts to create a more competitive capital market environment through the liberalisation of fund-raising requirements and raising standards of advisory and due diligence conduct by market intermediaries. It said these guidelines, which take effect today, were related to the liberalisation policies announced by SC chairman Datuk Zarinah Anwar on Dec 12 last year to facilitate corporate expansion and boost the attractiveness of Malaysia as a preferred listing destination.

(01-02-2008 The Edge)

BSN Home Loans May Hit RM3.1b This Year

BANK Simpanan Nasional (BSN) expects home financing, the second largest contributor to its total loan portfolio, to increase to RM3.1 billion by the end of this year from RM2.6 billion now. BSN chairman Datuk Seri Abdul Azim Mohd Zabidi said the increase will be partly due to contribution from the public housing loan scheme, which will add growth to its housing loans by 20 to 30 per cent. BSN is one of the banks that have signed agreements with Syarikat Jaminan Kredit Perumahan Bhd, a subsidiary of the Finance Ministry, to provide guarantee to financial institutions that disburse the loans under the scheme.

(24-1-2008 New Straits Times)