Monday, December 20, 2010

Investment Theme For 2011

What's In Store In Dec 2010 - March 2011 ...


1. Sarawak Region Corridor

2. The Sabah Development Corridor

3. The Asia Petroleum Hub In Johor

4. The Solid Waste Management Play

5. Flow of OPEC Petrodollars

6. The Trans-Peninsula Pipe Project


7. Implementation Of the Ninth Malaysia Plan

8. A Stronger Ringgit Regime (Further Appreciating)

9. Privatization And M&As Deals (The Banking Sector)

10. Asset Reflation Theme (Strengthening Ringgit)

11. Sarawak Corridor Of Renewable Energy (SCORE)

12. The Eastern Corridor Development Programme (Petronas-Led)

13. Northern Corridor Economic Region

14. Iskander Development Region (IDR) In South Johor

15. RM9 Billion LRT Extension Project

16. The Water Services Industry

17. A U-, V-, W- Or L-Shaped Global Economic Recovery (Uncertain)

18. Fiscal & Monetary Pump-Priming (Uncertain Due To Eurozone Debt Crisis)

19. The Economic Stabilization Plan, Mini Budget & Budget 2010

20. Interest Rate Cycle (Divergence Between Developing & Developed Economies)

21. Decoupling – Emerging Economies Are Disconnected From Developed Countries (China-Led Process Decoupling From The West)

22. Further Liberalization Of The Services/Financial Sector (Speculating Offshore Trade In Ringgit)

23. The Malaysian Government’s Reform “Train”

24. GLCs Revamp

25. The ‘Third’ Link Bridge (Eastern Johor) To Singapore (Uncertain)

26. A ‘Third Stimulus’ Package (Uncertain)

27. Second Wave Privatization

28. New Economic Model (ETP)

29. 10th Malaysia Plan And Capital Master Plan -> New Economic Developments Model

30. Sarawak State Elections

31. The Malaysia Political Trend

32. RM36 Billion MRT System

33. The Malaysia Singapore JV Involved In KTMB Land In Singapore

34. Malaysia Listed As China’s QDII Destination

35. The Redevelopment Of Kampung Baru

36. The Redevelopment of Sungai Besi RMAF

37. The Redevelopment of Pudu Prison

38. The Redevelopment of RRIM

39. Government Backed Entities – 1MDB, Ekuiti Nasional Bhd

40. The Bakun Dam

41. RM 15 Billion Project To Rehabilitate & Develop Polluted Klang River

42. The RM5 Billion Warisan Merdeka

43. The Development Of Dataran Perdana (KLIFD)

44. The KL-Singapore High Speed Train Project

45. The Pengerang Independent Deepwater Petroleum Terminal Project

Watch List In 2010 - 2011

1. The proposed changes to takeover rules by the SC will be announced in “a few months” from July 2010 as they are being bundled together with other investor protection initiatives (Pending);

2. The initial part of the Pahang-Selangor interstate water transfer project, which is the RM1.3bil tunnelling package, had been awarded in May 2009. The only portion of the project which had yet to be opened for tender was the RM4bil to RM5bil Langat 2 water treatment plant. The other portions – the Kelau dam and Semantan piping works – are opened for tender (Pending);

3. Minister in the PM’s Dept Datuk Seri Idris is leading a group of comprising representatives from the private and public sectors to come out with a master plan to develop a cluster of large O&G players;

4. Datuk Seri Idris Jala says Petronas will be announcing more incentives for the O&G industries as the government sets the stage for the country to be a regional hub for oilfield service;

5. The announcement by Malaysia 's central bank that it would allow offshore settlement in ringgit of trade in goods and services triggered speculation that Bank Negara Malaysia (BNM) may allow offshore trade in its currency. Any move to internationalise the ringgit, such as allowing the currency to trade outside of the country, would require the approval of the government as well as the central bank;

6. The feed-in-tariff (FiT) mechanism under the Renewable Energy (RE) Act will enable individuals to earn income by selling electricity generated from renewable resources at home. The Government was currently in the process of preparing the Act for a first reading in parliament in Dec 2010;

7. Khazanah could possibly lower its shareholding or exit altogether in the near term of about six months starting Aug 2010, including those under UEM Group. The likely assets (for divestment) are PLUS Expressways Bhd, CIMB Group Holdings Bhd, Tenaga Nasional Bhd, Time Engineering Bhd, TIME dotCom Bhd and DRB-Hicom Bhd;

8. Sarawak State Election Is Expected To Be Held In 1H2011 But Speculation That It Could be held As Early As End Of 2010 (due by May 2011);

9. The Land Public Transport Commission (SPAD) will draw up a public transport masterplan in six to 12 months from September 2010 to ensure the holistic development of public transport in the country;

10. PNB will conduct a study on the Government’s plan to redevelop Kampung Baru. The Kampung Baru Development Corporation, which serves as the planning and governing body for development actvities in Kampung Baru in Kuala Lumpur, is expected to be operational next year (2011);

11. PAAB is hoping to complete its planned acquisition of water assets in Selangor by the end of the year (2010);

12. The Kampung Baru Development Corporation, which serves as the planning and governing body for development actvities in Kampung Baru in Kuala Lumpur, is expected to be operational next year (2011);

13. RM15 Billion project to rehabilitate and develop the polluted Klang River .. The Klang River stretches 120km, with the first 80km under the purview of Selangor and the balance 40km under the Federal Government. The massive project is being spearheaded by Selangor MB Tan Sri Abdul Khalid Ibrahim;

14. The full scope of MREH’s participation in the projects to be located within the KLIFD will be finalised in 2011, following completion by 1MDB of the KLFID master plan;

15. Specific details of related to SCORE’s projects, all of which would be led by 1MDB, would be available in due course. Mubadala and 1MDB were starting preliminary assessment work on the SCORE project;

16. Datuk Seri Najib has told the party faithful to get ready for 13th General Election and to get into battle mode. Talk that the elections could be held as early as July 2011. He and Muhyiddin will begin a nationwide tour of all the states beginning early 2011 to meet the people and party grassroots;

17. Malaysia will only approach Singapore on the bullet train project connecting the countries’ capital cities once its feasibility study is completed by mid-2011. The study is due to start in January 2010 and the results will be discussed in the Cabinet;

18. Design details of the proposed MRT project in the Klang Valley are being finalised and will then present them to the Economic Council and the Cabinet, and expect to finalise the project before the end of 2010. Physical work for the project will start in the middle of 2011, with some of it being parcelled out for tender;

19. The second Capital Market Masterplan for Malaysia from 2011 to 2020, which is expected to be released in the first quarter of 2011, will address key areas such as the development of a private pension fund framework, boosting retail participation in the local stock market, working capital improvement and higher attention to governance;

20. SPAD to draw up a 20-year master plan to ensure the holistic development of public transport in Malaysia and submit to the government by September 2011

Watch List In Coming Week(s)

1. Expecting more positive news flow in the coming months (Oct 2010 & Beyond) for the construction & O&G sector. There will be a slew of project roll-outs and tender awards in the coming months (Oct 2010 & Beyond);

2. A number of important announcements on economic reform could be made in Dec 2010. First a more liberal policy on employing non Malaysian nationals could be announced which would spur economic reform by attracting more skilled and knowledgeable workers to Malaysia . This would be a start to real economic reform in policies rather than many infra related projects announced thus far. Second a potential Cabinet reshuffle is on the cards.

Corporate Watch List In Coming Months

Dec 2010 …

1. Ekuiti Nasional Bhd (Ekuinas) will announce its third investment before year-end (2010). They are talking with a number of parties but have not decided on any companies or sectors. This (third investment) is to fulfil its third objective to invest in the non-core assets of either GLCs, PLCs or MNCs;

2. Speculation that Khazanah will pare down its stake in Tenaga, in which the former holds 35.6% stake. An announcement could be made in Dec 2010. However, Khazanah’s timing may coincide with Tenaga making a significant announcement before year ends (2010).

3. The offer by UEM Group and EPF would be tabled at PLUS' extraordinary general meeting in Dec 2010;

4. PM Datuk Seri Najib has dismissed reports of a Cabinet reshuffle in anticipation of snap polls early 2011. The reports said the reshuffle, expected by Dec 2010, would enable Najib to form a strong team to help him implement the economic and transformation policies he has put in place and carry the Government into the 13th general election;

5. Deadline of Dec 22, 2010 Sunrise ’s minority shareholders to accept the UEM Land’s takeover offer;

6. Postal Land Act …The proposed amendments of the Act is to be tabled in parliament Dec 2010;

7. The legislation on renewable energy has been prepared and it could be up for first reading in Parliament in mid Dec 2010. Minister of Energy, Green Technology and Water Datuk Seri Peter Chin said the legislation included the feed-in tariff scheme that enables consumers to sell renewable energy to utility companies;

8. DRB-HICOM Bhd is scheduled to sign a definitive agreement on December 21 2010 with Volkswagen AG, Europe's largest carmaker, to assemble VW cars in Malaysia

9. MRCB and IJM Land Bhd have extended the validity of their MoU -- to merge and create the country’s second-largest property company to Dec 29 from Dec 14 2010;

10. LCL would be de-listed on Dec 27 2010, unless an appeal is submitted to Bursa Securities on or before Dec 22 2010, which is the appeal timeframe. Any appeal submitted after the appeal timeframe will not be considered by Bursa Securities.

Jan 2011 …

1. KEURO’s directors are of the view that approval to implement the WCE will be obtained in FY2011 ending Jan 31, 2010;

2. MTD Capital Bhd could rake in at least some RM150 million in annual toll revenue from the SLEX in 2011 if higher toll rates there are implemented in January 2011;

3. Observers understood from the management that the endorsement of RCE’s compliance with SKM’s guidelines is just a validation exercise. Once all the documentation has been submitted, endorsement should follow shortly — as early as Jan 2011;

4. JPK’s proposed regularisation plan will be announced and submitted to the relevant authorities by Jan 31, 2011;

5. Unisem’s directors expected the group’s business “to decline moderately in the fourth quarter 2010 as a result of anticipated inventory adjustment in the industry but would nonetheless remain profitable;

6. Transmile has more liabilities than its assets due to the ballooning accumulated losses, depleting cash and lower value of its assets. Bondholders are not able to proceed with winding-up TGB and its subsidiaries as the latter had sought for a RO from the court to stop any proceedings by its creditors until January 2011. The sale of its four MD11 aircraft, which were fair valued at RM242.11 million as at Sept 30, is the key part of TGB’s debt restructuring;

7. EON Capital said the judge will deliver the verdict of its case on Jan 19, 2011 after reading the written submissions as well as hearing oral submissions from the respective counsels;

8. JCorp and Johor Ventures Sdn Bhd are seeking the removal of Muhammad Ali Hashim as a director of Kulim ( Malaysia ) Bhd and KPJ Healthcare Bhd with immediate effect. They had requisitioned for the EGM to be held on Jan 17, 2011 for Kulim while on Jan 26 2011 for KPJ Healthcare

Feb 2011 …

1. Ho Hup Construction Company Bhd has been given until Feb 4, 2011, to submit a revised regularisation plan, failing which the company’s shares may be suspended and Ho Hup de-listed from the local bourse;

2. Baneng expects its proposed restructuring scheme, including debt revamp to be completed by the third quarter of 2011. It expects to get the approvals from all relevant authorities by February, 2011 and complete the proposed capital reconstruction by mid-May 2011. The company has sitting on the board as an independent non-executive director Tengku Sulaiman Shah, the brother of the Sultan of Selangor;

3. Axiata has stated that it intends to write down the value of its 19.1% stake in Idea during its fourth quarter, which be announced in Feb 2011;

March 2011 …

1. Notion’s reputation hinges on the Samsung 2.5” base plate project. Successful execution will put earnings back on track and see investors’ confidence regained. It is a make or break by March 2011. Successful execution will put earnings back on track and see investors’ confidence regained;

2. China’s 12th Five Year Plan will be unveiled at the National People's Congress on March 2011. It is expected to strongly emphasize a shift to domestic consumption and less reliance on export manufacturing and heavy industry;

3. The financial regularisation of Seloga has to be done before March 31, 2011 or be de-listed. Former Renong boss, Tan Sri Halim Saad, has a 26.63% equity stake in Seloga;

4. TdC is expected to hold an EGM in March 2011 to seek shareholder approval for its proposed purchase of the Global Transit entities which own a 10% stake in the 9,620km Unity Cable System. However, the proposal draws criticism partly because it is related party transactions, as Afzal and COO Megat Hisham Hassan are directors of Megawisra Sdn Bhd. Afzal is the major shareholder in Megawisra with a 75% stake. Megawisra in turn, owns the majority of the companies to be acquired under the proposal;

5. Sime Darby Bhd was considering selling off some of its businesses and the announcements was due in 2011. There was a handful of businesses that might be divested or offered to its joint-venture partners to be taken over. The final decision will be made by the end of March 2011

Few Months From Dec 2010 …

1. Maybank must “refloat” a 20 per cent stake in PT Bank Internasional Indonesia within a six-month period;

2. Jerneh Asia Bhd has 12 months from Dec 2010 to seek a new core business;

3. SAB is set to unlock its holding of 644.49 acres of land bordering Kota Kemuning, Shah Alam, although its board of directors are still exploring its options before making any decision in the next three to six months;

4. ARK Resources Bhd is closed to getting a RM100 million job to build a commercial development in Negri Sembilan. But the contract will only be firmed up if the company is able to complete its restructuring exercise within the next four months from Nov 2010.

5. MARC was in the process of completing its review on Petra Perdana and expected to complete the review over the next four to five weeks (Nov – Dec 2010);

6. Tenaga plans to raise RM3 billion to RM4 billion to finance the first block of the 1,000-megawatt coal-fired powered plant in Manjung.

7. Talk that the 13th general elections could be held as early as July 2011. Datuk Sri Najib and Muhyiddin will begin a nationwide tour of all the states beginning early 2011 to meet the people and party grassroots;

8. Contract awards from the SOGT were expected to gain momentum going into the tail end of 2010 …Kencana, Dayang Enterprise Holdings Bhd, SapuraCrest Petroleum Bhd and Petra Energy Bhd as possible contenders and beneficiaries of the SOGT’s future jobs;

9. The financial lenders of Carotech are reviewing and considering the proposed scheme. The CDRC gave it six months from July 1, 2010 to complete the proposed scheme. Tabung Haji has been upping its stake in Carotech with a 6.93% stake as at Sept 3 2010;

10. Zeland had a time frame of 12 months from Sept 2010 to dispose of the 30 million IJM Corp shares in the open market and/or through direct business transactions;

11. Linear saw the entry of white knight with appointment of three new directors, who are planning to put the company back on its feet again. A new director is Datuk Ling Keak Ming, Ling, a former director of Magnum Corporation Bhd from 2000 to 2007, is closely associated with the MWE Holdings group … But It Denied;

12. Cash-rich (RM800 million) NCB Holdings Bhd with no borrowing, may declare a sizable dividend payout at year-end (2010), although industry observers say the port operator is going to need all the cash it has;

13. The Energy Commission has asked for proposals from two power plant operators with regard to the second 1,000MW coal-fired power plant. It will evaluate who has the better proposal and will recommend to the Government to award to one of these two operators … MMC Corp/Tenaga;

14. Genting Bhd intended to purchase up to a further 362.207 million of its shares (representing 6.13% of the issued and paid-up share capital) within the next 10 months from Aug 2010;

15. Proton’s MD Datuk Syed Zainal Abidin said Proton will undertake a major restructuring programme by year-end (2010). Speculation that Proton will merge with Perodua and disposing Lotus … But it Denied;

16. CDRC had via its letter dated Aug 11 2010 accepted Limahsoon’s application. The CDRC had given the company six months from Aug 11 2010 to complete the proposed debt revamp;

17. Feasibility study on a proposed MRT system (Gamuda/MMC Corp) in KL will be completed in Sept 2010. The commission will take a look at the three-month from Sept 2010 study and submit it to the government, which will decide on the proposal;

18. Scomi Eng had submitted a proposal to the Chennai’s state government about three months ago and hopefully, by year-end (2010) there will be some developments;

19. Sources say JAKS has teamed up with a reputable local contractor to bid for the piping package worth up to RM400mil – with a result to be known by end-1H 2010;

20. UEM Group Bhd has no plans yet to dispose of its 45% stake in Time Engineering Bhd, but will do so if there are interested parties with substantial game plan. Time Engineering had received its shareholders’ mandate in July 2009 to sell its entire stake in TdC at no less than 48 sen a share;

21. PJI is in process of a capital restructuring exercise which hopes to complete in six months (July 2010 – Dec 2010). It is also undergoing a management reshuffle. It has disposed two of its assets;

22. Petra Energy/Perdana is confident of securing a "significant chunk" of the contracts by Petronas worth RM3.2 billion of which the results will be known in six months from June 2010;

23. Ramunia was working out its financial regularisation plan and hoped to exit the PN 17 status by the end 2010. It would be meeting its secured and unsecured creditors on May 7 2010 to work out the payment scheme. It had RM347 million in borrowings;

2011 …

1. JCorp is confident of restructuring its RM3.6 billion debt by the first quarter of 2012. A public announcement on the finalised details of the scheme will only be made in 2011;

2. Sources say the EPF will hive off another 9% stake in RHB Capital soon. The EPF is looking to sell the shares to a diverse group of institutional FM instead of strategic investors. The EPF had until June 2011 to reduce its interest in RHB Capital;

3. The Perak state government is confident that the feud between two of Integrax Bhd's major shareholders, involving a big investment in the Vale transhipment project, will be resolved by early 2011.

4. Hiap Teck will start construction of rm750 million blast furnace in 2H2011;

5. Kencana is seeking strategic partners to further enhance its business opportunities and is not interested in mergers. The company planned to raise about RM800 million in 2011. The details will be revealed in the first half of 2011. Earlier speculation that Kencana may see a new shareholder … US based McDermott Intl Inc is looking to buy up to 5% of group CEO Datuk Mokhzani’s stake in Kencana. However he has firmly denied the speculation;

6. The proposed exercise is between YTL Corp/YTL Land expected to be completed by 1H2011;

7. AirAsia X Sdn may sell shares in Europe and Asia as early as next year (2011)

8. The next package to be dished out is for Kelau Dam in Pahang worth RM200mil to RM250mil, possibly early 2011 … IJM/JAKS;

9. The proposed merge MRCB & IJM Land company will be listed after the second quarter of 2011;

10. BP Plastics was applying for economic concession rights to approximately 10000ha of land in Cambodia for agricultural purposes. The outcome of the land application is expected to be known early 2011;

11. Airasia may see maiden profit contributions from its Thailand and Indonesian associates in 2011. The two associates are expected to pay up the RM800 million owed to Airasia over the next two years (2011-2012), a move which will boost its cash position of almost RM1 billion now (Nov 2010). Plans to list its associates are also on track … Indonesia and Thailand ;

12. LBS much-anticipated China development may finally be getting off the ground and the company’s focus on affordable landed housing is drawing in strong sales. Its China project could be launched in the second half of 2011;

13. Loss-making GPacket, which is burning cash for capex and customer acquisition, is on track to be profitable at the operating level by 1QFY11 ending March 31;

14. Maybank is rumoured to be keen on acquiring OSK Holdings Bhd, which is on expansion trail in the Asean region, in a move to beef up the former’s investment banking arm. Sources say OSK Holdings Bhd is believed to have appointed Goldman Sachs to explore the possibility of finding a suitor or a strategic partner;

15. A possible privatization motivating factor for Hap Seng Consolidated to undertake such an exercise could be its major shareholder – the Lau family from Sabah – looking at further rationalizing the family businesses held under different entities;

16. The key re-rating catalyst for Faber would be the outcome of its local HSS concession talks. Meanwhile, a cash pile of RM170mil as at the end of June and a healthy balance sheet would provide Faber the flexibility to respond to any merger and acquisition opportunity;

17. There could be new substantial shareholders in the form of Indonesian investors and Middle Eastern funds surfacing in Scomi Group quite soon. The new shareholders have been accumulating Scomi Group shares on the open market for sometime and are close to surfacing in the company;

18. The Casino Regulatory Authority in Singapore has received licence applications from junket operators endorsed by Genting SP. It is believed that the junket operators would get their licence by early 2011;

19. Ariantec Global is hopping to see the entry of a new shareholder in the form of GLC by the first quarter of 2011. It is hopping to complete a private placement to the GLC. The company is expecting to secure more of such deals especially from the Ministry of Education by the end of fourth quarter 2010.

20. The entry of new major shareholders in Mithril is seen as heraldings new chapter in its corporate annals. Not only it clears its debts under a corporate restructuring, but it will also see the injection of an Indonesian palm oil processing company. The company expects to be out of the PN17 list upon completion of the acquisition by the third quarter of 2011;

21. Expectation that HWGB’s tin mine will commence production by year-end (2010) and will help turn the company around … revenue to start flowing in FY11 ending December;

22. Hong Kong-listed Galaxy Entertainment Ltd opens its large integrated resort facility in Macau in the first quarter 2011;

23. Litrak, the concessionaire of Damansara-Puchong Highway (LDP) is expected to obtain government approval for a toll increase next year (2011).

24. Sources say Axiata may raise its dividend payout in 2011 with to increase its payout from 30 per cent and still maintain a healthy balance sheet;

25. Ibraco Bhd’s proposed regularisation plan to exit the PN17 status is expected to be completed by the 1Q2011, paving a way for the lifting of Ibraco from the PN17 status;

26. MPHB’s management was looking at re-listing Magnum end of 2010 or in 2011. The company was taken private in 2007;

27. Kurnia Asia is reviving its plan for an insurance venture in Cambodia with a new partner. It is applying for insurance licenses in Cambodia but operations are only likely to come onstream in 2011;

28. Haisan has approximately 11 months (July 2010 – June 2011) to submit its regularisation plan to the relevant authorities for approval;

29. Several companies made presentations to the NKEA lab o the KL-Singapore high-speed train project. Among them were YTL Corp Bhd and Hartasuma Sdn Bhd, which was said to be partnering a Chinese state-owned firm. The proposals for the HSR were still at the conceptual stage and the next stage would be for a feasibility study to be conducted in 2011;

No Timeline Has Been Set …

1. The revival of the Sabah dam project worth at least RM1 billion was a wild card for WCT. WCT has submitted its bid for the Klang Valley LRT extension works;

2. A JV formed by Genting group and VinaCapital has obtained approval for a US$4 billion casino resort project in Hio An city;

3. Olympia, a company under gaming and property magnate Tan Sri Yap Yong Seong, is seeking to put in a RM2.25 billion bid for Pan Malaysian Pools Sdn Bhd (PMP), the gaming arm of Tanjong plc. But the company has not been able to firm up a financing plan which is why it has not submitted an offer yet;

4. Lion Industries’ shareholders can expect higher dividend payment under the company debts restructuring scheme, dating back to 2003, has finally been lifted;

5. GHL SYS substantial shareholder, Simon Loh Wee Hian is requisitioning an EGM to remove interim chairman and group MD Tay from the board with immediate effect;

6. Speculation that RHB Capital is interested in EON Capital. The banking group is rumored to have given EON Capital a second look;

7. The Naza brothers resign their board memberships, reduce stakes in Jetson. Following the sale, Pavillion still owns 21.7%. MD of Jetson Datuk The is believed to have acquired the 7.2% stake disposed by the brothers;

8. Excess capacity, high raw materials and low demand will possibly lead to further consolidation among the rubber glove players and Top Glove is in a good position to further enlarge its business when the opportunities arise;

9. Datuk Gan, the executive chairman of Technic Group Bhd, increased his indirect stake to 38.71%. Sources say there is no intention to take the company private. Gan is also substantial shareholder in SKP Resources with 70.99% stake;

10. Genting HK is one of the private investors participating in building the US$15 billion Bagong Nayong Pilipino-Entertainment City Manila under the PAGCOR. The project is planned on reclaimed land around the Manila Bay area and is meant to rival established gaming and entertainment areas such as Macau and Singapore . However, the media has reported that the new administration under President Benigno Aquino has called for a review into these investments;

11. IJM and MRCB would be participating in the tender for Package B of the LRT extension project;

12. MK Land Holdings Bhd is not ruling out the possibilities of merging with other property players. However, the group had yet to receive any proposals. They would look at the potential value if such an opportunity arose;

13. A key catalyst for DRB-HICOM is the conversion of a letter of intent from the Ministry of Defence for 257 AV 8x8 armoured wheeled vehicles, worth about RM8 billion;

14. Speculation Tan Sri Syed Mokhtar Albukhary was rumoured to be the frontrunner in the 32% stake sale of POS by Khazanah, with the deal costing some RM700mil. DRB-HICOM owns 70% of Bank Muamalat while the balance is held by Khazanah;

15. KYM is going big on the development of an industrial park with the Perak State Economic Development Corp;

16. It is learnt that a consortium – Oriental Peral Harbor Sdn Bhd – has submitted a preliminary proposal to the federal government to take over the Penang port. Oriental Pearl harbor’s directors are Datuk Rosli Abdul Latif and Datuk Mohd Ramli Abu Bakar. Sources familiar with the port business say that Oriental Pearl harbor is led by Datuk Siew ka Wei, who is partnering companies under the China Shipping Co Ltd. Siew is the major shareholder of Ancom Bhd, Ancom Logistics Bhd and Nylex;

17. Sources say SapCrest is acquiring oil and gas companies which include acquiring loss making oil and gas players such as Petra Perdana Bhd … But Denied;

18. The moratorium on the selling of Masterskill shares held by pre-IPO shareholders expire in mid Nov 2010. While foreign funds have reduced their stakes in MEGB, local institutions funds are said to be picking up its shares;

19. Gamuda is keen to bid for Qatar ’s USD$45 billion MRT project following its successful bid to host the FIFA World Cup finals in 2022;

20. DRB-Hicom was unaware of any plans by Tan Sri Syed Mokhtar Al Bukhary to take the auto-banking group private. It told Bursa Malaysia it was not aware of a plan by the tycoon to offer between RM2.20 and RM2.70 per share which he does not own.

21. Tenaga has been actively pursuing projects in the Middle East and is one of the contenders for Saudi Arabia ’s US$1.8 billion Qurayyah power plant;

22. Vastalux directors were currently consulting their advisers on the next course of action and are not aware of any timeline fixed for the next course of action after a rejection of its revamp plan. Earlier sources say the Shapadu group, led by Datuk Shahrani Abdullah, will take control of beleaguered Vastalux if plan to inject some of its assets into the listed company materializes. Petronas had suspended Vastalux licence but it was appealing for a reinstatement;

23. Tamadam is said to be contemplating spinning off loss making warehousing business and privatizing its profitable food business, although management declined to comment;

24. Sources say Inch Kenneth mainstay is in plantations and tourism, has attracted some serious suitors for its 350 acre estate in Kajang, possibly including a government linked property developers;

25. Tunku Ya’acob, chairman of Mycron Steel Bhd, refuted the market rumour on the privatisation of Mycron. MIGB owns a 54.8% equity stake in Mycron;

26. Rumours that Stone Master would be involved in a merger and acquisition exercise with a foreign company. Stone Master produces marble and granite products;

27. CMSB’s cash pile grow to as much as RM881 million against RM485 million in total borrowings after disposing UBG, translating into net cash of RM395 million or RM1.20 per share. Speculation is rife that CMS may pay a generous special dividend to shareholders;

28. Jotech acquired a 40% stake in Rockhill Resources Ltd which owns a coal mine in Indonesia for US$2 million. Jotech is still awaiting the extraction permit from the local authorities due to delays. It expects to announce an update on the mine some time in 1Q2011;

29. SP Setia//E&O/YNHP/Glomac/BRDB: M&As candidates;

30. The decision rests in QSR’s board as to whether to accept Carlyle’s or Idaman Saga’s offer and no indicative time frame has been given by the latter as to when a decision will be known. Speculation is rife that some local parties are trying to match the PEF with either KUB Bhd or Ekuiti Nasional Bhd;

31. Ho Hup was awaiting Bursa Malaysia ’s response for a time extension to submit its regularisation plan. Ho Hup is a PN17 company;

32. SILK Holdings Bhd is awaiting government approval to raise by 30 sen the toll rate at the Kajang Traffic Dispersal Ring Road. The present rate is RM1. Earlier speculation that SILK may want to spin of fits highway division to get better valuations for its oil and gas business;

33. Rumours that Stone would be involved in a merger and acquisition exercise with a foreign company. Stone Master produces marble and granite products;

34. The ceasing of Tengku Ibrahim is perceived to be an indicator that selling pressure of Petra Perdana may ease soon. Should it win fresh contracts for its idle vessels, it will augur well for its earnings going forward. Its earnings visibility will only be certain when contracts, either from Petronas or other oil producers, are officially awarded;

35. Harrisons’ second and third largest shareholder has been gradually reducing his interest since May 2010 to 7.1%. The question now is who will emerge as a new shareholder. Will the existing major shareholder Bumi Raya further consolidate its holdings in the group?

36. Speculation that Eukinas was considering acquiring a stake in CyPark. However the company says it has not received any indication of interest from the fund, although it is open to opportunities with suitable strategic partners;

37. Emas Kiara Industries Bhd has proposed to sell its core business, technical textiles manufacturing, for RM100 million cash to US-listed Royal Ten Cate N V. By doing that, the company will have no core activities going forward but sitting on a net cash pile of RM36.2 million or 42.7 sen per share;

38. While Afzal is receiving some cash from the sale of his assets into TdC, he is likely to be using a big portion of that money to pay for exercising his options to raise his stake in PKV, the special purpose vehicle owning 30% of TdC. Sources say Afzal is exercising options to increase his stake in PKV to 51%;

39. TA’s lack of expansion in the stockbroking business - and the shift in focus towards property - may possibly be a prelude to the divestment of the former;

40. Satang new and exiting shareholder and AirAsia substantial shareholder Datuk Kamarudin Meranun and present a fresh regularisation plan to the authorities to uplift the PN17 status of Satang;

41. With the UEM Land, Sunrise deal rocking the local property scene, speculation has again surfaced that a SP Setia may be a target of some of sort of partnership;

42. Apart from a special payout or capital distribution, there has been speculation that LFIB will be privatized. Such an exercise would further consolidate the Lion group’s structure;

43. Daya Materials supplies to various companies within the Petronas Chemical group. It will benefit from the potential of more Petronas contract awards;

44. With its cash reserves amounting to about RM10.8bil, YTL Corp could easily acquire assets up to US$25bil-US$30bil without the need to raise more money;

45. Sources say Dayang is believed to be in the forefront to clinch an estimated RM2 billion worth of topside maintenance service contracts from Petronas and is expected to dish out in the next three to six months from Nov 2010;

46. Bursa Malaysia Bhd’s CEO said it is always open to exploring “collaborative initiatives” to help grow its business;

47. Goldman Sachs holds 135.17 million shares or 5.74% in Mulpha Intl. Mulpha International Bhd’s associate company FKP Property Group is touted as a possible takeover target by Stockland, a substantial shareholder of FKP … But Mulpha Denied;

48. DRB-HICOM had talked to six parties to sell a 30% stake in Bank Muamalat and efforts to find a strategic partner for the bank were still ongoing;

49. Sources say Ezra Holdings Ltd is looking to increase its stake in Perisai via the injection of assets … But the board Denied;

50. L&G flagship Bandar Seri Damansara development will be crucial growth driver in the coming years (2010 & Beyond);

51. FajaBaru is bidding for RM2 billion worth of building construction and Light Rail Transit-related infrastructure projects;

52. Three consortium are understood to be vying for a US$250 million turnkey project from Petronas for the development of the Sepat marginal oil field located 130km of Terengganu. The three consortium are MMHE and its partner, France based Technip SA; Kencana and London based Petrofac Ltd and Australia based Roc Oil Company Ltd and Griffin Energy Ltd. Sources say Kencana consortium have emerged as front runners;

53. Sources say Tasek (part of Singapore listed HL Asia Ltd), which is re aligning its business portfolio to further diversify its downstream activities, is among several parties eyeing MTD ACPI Bhd’s precast business;

54. Two shareholders of Seloga Holdings Bhd, owning a combined 21% stake, have called for a general meeting to remove Datuk Samsudin Abu Hassan as a director with immediate effect;

55. Dialog was highlighted as one of the companies that would spearhead the government’s aim of turning Malaysia into a regional oil storage and trading hub by 2017;

56. Specualtion that E&O is bidding for the the Wesley Methodist Church, which owns the 4-acre site where the Pykett Methodist Boys’ School sits along Burma Road … but It denied;

57. Sources say a corporate exercise could be imminent. There is speculation that a possible general offer, sale of assets or a hefty dividend could be in the offing. Kluang Rubber Co ( Malaya ) Bhd is Kuchai major shareholder. Kluang holds about 42 per cent of Kuchai. Kuchai holds 26 per cent of Sungei Bagan Rubber Co ( Malaya ) Bhd;

58. Sources said that a casino is being propose for the Karambunai IR … But KBunai Denied. Up to Oct 2010, KBunai has no shareholding in the SPV, nor has it received any official notification from the government or signed any MoU or agreement with SPV to develop Karambunai yet. However, both management of KBunai and SPV have concrete, specific, clear time-line plans and commitments to the Malaysian government to attain the desired results under ETP as envisaged by the Government;

59. Genting Malaysia Bhd has formed a partnership to bid for the “large casino” licence in Newham , UK , shortly after it bought over 46 casinos there. The outcome of Apollo’s Stage 2 application is expected to be known in February 2011;

60. A realignment of shareholders is brewing in Leong Hup Holdings Bhd. Going forward, markets are waiting to see if any new direction is taken after this;

61. Sources say Litrak & Grand Saga (Taliworks) is the next target for restructuring;

62. With Ekuinas behind current management and having board representation in Konsortium, this is set to change and could it also be part of a much bigger plan;

63. The Gan family of SKP said they bought more shares because its shares are “undervalued” and do not reflect the company’s strong fundamentals and production capabilities dispelling privatization exercise;

64. Sources say BKawan, biggest shareholder in KL Kepong, is a “compelling privatization target” and its shares could be worth RM18.02 each;

65. Sources say at least one foreign party is keen on EON Capital and is exploring the possibility of acquiring a stake in the bank which includes Primus’s 20.2% stake;

66. eNCoral Digital Solutions Sdn Bhd have acquired shares in Inix and emerged as a substantial shareholder in Inix with 22.83 million shares or 19.86%;

67. Glomac was keen to participate in the development of the over-3,000-acre plot in Sungai Buloh currently owned by RRIM;

68. Speculation IJM Corp Bhd and UEM Group Bhd may jointly submit to the Government a proposal for the MRT system;

69. Sources say IJM Corp is looking at listing its infra assets – in India as well as those in Malaysia – in India . The group is also exploring the possibility of a dual listing on Bursa Malaysia ;

70. IJM Land Bhd is looking ripe for possible privatisation.… But It Denied;

71. Public Bank is due for a re rating and dividend surprises as there is dividend certainty now and concerned over a capital raising exercise have abated;

72. The board and management of Jerneh would be evaluating very carefully the next course of action for the company after selling Jerneh Insurance for rm532 mil. It would not be in the insurance business due to the tight regulations;

73. Talk is that major developers like E&O, SP Setia, IJM Land and Mah Sing would have put in their bids to buy and develop the Penang Turf Club’s land;

74. Sources say Rank Group plc will have corporate activity in the company, “which may not be long in coming”. Quek’s Hong Kong-listed flagship Guoco Group Ltd owned a 29.25% stake in Rank (as at June 30, 2010) while Lim’s Genting Bhd held an 11.59% stake;

75. Who acquired Loke’s equity interest in Bertam Alliance could be indicative of future corporate developments in company;

76. Sources say Syed Mokhtar Al-Bukhary (MMC) has written to the country’s government offering to buy 1,200 hectares of RRI land outside of KL;

77. Will Datuk Ooi Kee Liang make a difference and turn around Equator’s fortunes after he has emerged as the single largest shareholder in Equator Life Science Bhd”;

78. Will a portion of Gopeng’ money (rm200 million) be returned to shareholders as dividends after capex?’

79. Sources said AZRB has emerged as frontrunner to win a RM300 million job to build a 300-bed hospital in Kuantan, Pahang for UIA;

80. Speculation is that Landmarks’ flagship asset on Bintan island in Indonesia may be revived soon. The company officials confirms that the company is indeed resuming the project, but adds that it is too early to share details;

81. Genting Bhd is one of the candidate looking into Tanjong’s gaming business;

82. HELP is planning a secondary listing of its shares in Singapore over the next 18 months to fund its expansion plans;

83. Several shareholding changes are happening at Infortech Alliance Bhd, but observers say they have no inkling of what may transpire in the company;

84. Sources say members of the consortium (Redevelopment Of RMAF base) are 1MDB, LTAT and Datuk Desmond Lim of Malton Bhd. It cannot be ascertained if Malton or Lim, through his private company, has a stake in the consortium;

85. Rumoured that a M&A candidate is ECM Libra;

86. Market talk has it that cash-rich SKP may be taken private.

87. Sources say Sarawak Energy has submitted its proposal to the Bakun project’s owner Sarawak Hidro Sdn Bhd. Other bidders are 1MDB, Malton/QIA;

88. TTAGB chairman Datuk Tony Tiah Tee Kian has been buying TAGB’s ICPS since Sept 2010;

89. TNB is interested in bidding for the second block of the 1,000-MW coal-fired power plant in Manjung if it is given the opportunity to participate;

90. Sources say YTL Corp may gain from proposals to build a high-speed rail network linking Kuala Lumpur and Singapore ;

91. Speculation that Quek has a plan for SSteel in terms of operations;

92. The Terengganu government, via its investment arm and other units, has been increasing its stake in Golden Pharos;

93. Elliott Capital Advisors LP bought a 5.1 per cent of KNM’s stake;

94. Goodyear may be in talks with an Indian company for a potential merger with Bombay Stock Exchange-listed Indag Rubber Ltd … But It Denied;

95. Sources say Datuk Abdul Hamad Sepawi s believed to be closed to selling his entire stake in Sarawak Plantation via subsidiary Cermat Ceria which held 30.35% stake;

96. DRB-Hicom is looking at possibility of listing some of its subsidiaries … the services sector, but did not set a timeline for this to happen;

97. Kimlun Corp Bhd, a one-stop engineering and construction services provider, is expected to benefit from the soon-to-be-announced LRT extension project;

98. EIG remains to be seen whether EIG’s new shareholder will find new ways of adding value to the group;

99. Rerating catalyst for Muhibbah if it can collect its receivables from Asian Petroleum Hub otherwise provisions would have to be made for doubtful debts;

100.Telekom Malaysia has the capacity to return cash above its minimum dividend policy of RM700 million per annum. TM may consider raising its dividend payout after the current financial year ending Dec 31, 2010 (FY10) as its capex for the high-speed broadband (HSBB) project will peak in 2010;

101.Market talk that RGB International Bhd’s (formerly known as Dreamgate Corp Bhd) disposal of a 40% stake in Chateau de Bavet Club Co Ltd is imminent with the issue of a note to bondholders seeking approval for the sale. Discussion (for the sale) is still in progress and subject to finalisation. No timeline has been set;

102.MMC Corp Bhd has entered into a JV agreement with Zelan Bhd to bid for infrastructure projects under the 10MP. The JC company is named MMC Zelan Sdn Bhd (MMC holds 60% and 40 % held by Zelan;

103.Silver Bird’s rating outlook may be revised to stable if it is able to sustain improvement in its financial performance and also halt decline in its market share. Conversely, its ratings may be downgraded if its performance comes in below rating’s revised expectations, or if GMN contract exposes the group to additional risks that are not adequately addressed;

104.Market talk that BRDB may be taken private. The plan may still be in its early stages but it is said to be under serious consideration;

105.Tenaga’s stock may be re-rated on the back of robust free cash flow, positive company’s active capital management in terms of reducing debts, stepping up dividend payouts, impact of a fuel pass-through mechanism on the company in the longer term and is well poised to benefit from stronger economic growth and potential tariff hike;

106.Sime Darby is under-owned by institutional funds due to the losses across the group’s energy and utilities operations. It is in an inflection point for an upward re-rating. The potential restructuring of Sime Darby’s key businesses might include a separate listing for its plantation and property units;

107.QL Resources may raise money via a private placement of new shares, or bond issues for capex;

108.IJM Corp has a minority stake (39%) in the Kemaman port speculation that EPIC is looking at “kicking” IJM out of the port;

109.The Selangor state government is still studying the proposals submitted by the companies and are evaluating and figuring out the best business model for this project. It confirmed that I-Bhd would lead the Wessex Water I-Bhd group portion for the project;

110.Khazanah Nasional Bhd has set in motion its plan to divest its 32.21% stake in POS. The leading candidate is a JV by Ekuiti Nasional Bhd and CVC Capital Partners. The other notable names that have cropped up are Sapura Group and Scomi Marine Bhd, Knosortium Logistic Bhd have also put in a bid;

111.Speculation that the re-listing of Malakoff could take place sooner that expected? Sources say Malakoff has already started to lay the preliminary groundwork for a re-listing, but details remain sketchy at this stage as at Aug 2010;

112.BCorp holds an interest of 31.66% in TMC Life Sciences. It is uncertain if TMC Life Sciences still fits into this picture, especially with the emergence of the new shareholder. Should BCorp choose to divest its stake in TMC Life Sciences, would Lim then increase his stake in the company?;

113.The change in TMC Life controlling shareholder may lead to some spillover interest in StemLife Bhd. BCorp has a 31.66% stake in TMC Life Sciences and a 12.17% stake in StemLife;

114.The acquisition of YNHP shares by its major shareholders and directors could be a preclude to bigger corporate moves;

115.PJI has put a bid to the UEM Land-Bina Puri Holdings Bhd JV for a mechanical and electrical engineering services contract at LCCT;

116.Delloyd is currently in discussions with SPNB on the possibility of manufacturing a lower decked long bus;

117.Syed Zainal reaffirmed about a possible foreign partner for Proton, stating that the group was in discussions with various global OEMs;

118.There has been talk that TimeDotCom could be a beneficiary of its linkage Global Transit Intl Sdn Bhd, which is involved in the development of the Trans-Pacific Unity submarine cable system;

119.Mieco major shareholder BRDB was still in preliminary and exploratory discussions with a Chinese party on selling its stake in Mieco to the latter. BRDB would make the appropriate announcement;

120.Sources say state controlled Terengganu Inc Sdn Bhd is planning to privatize its 40.13% unit EPIC. AZRB which has a 21% stake in EPIC … But Denied;

121.Xingquan has been actively seeking new partners for some time, is finalizing talks with at least one local party to take up a substantial stake in the company but no deal is impending at the moment;

122.Speculating Privatization Zelan But Deny in May 2008;

123.A white knight may emerge for KKB. Sources say the company is planning to diversify into the property and construction sector with the appointment of chin;

124.Sources say E&O’s major shareholders are believed to be considering a privatization of the property develop. They are talking to banks to finance the exercise;

125.Speculation is rife that Ekuinas, with JV partners could be eyeing a stake in POS. Ekuinas will announce its next investment project by the end of 2010;

126.CIMB is in the process of negotiation with the relevant authorities on how to get listed in Jakarta ;

127.UEM Group Bhd is keen to bid for the RM43 billion KL MRT project;

128.LSE-listed Aseana Properties Ltd, a unit of Ireka Corporation Bhd, may consider returning excess cash to shareholders following the proposed disposal of properties in 1 Mont’ Kiara for RM333 million. Aseana expects to complete the proposed transaction by year-end (2010);

129.UEM Group were no plans yet to re-list the company or raise capital but did not rule out the possibility in future;

130.Fitters’ MD Datuk Richard Wong’s had significantly increased his equity interest to over 30% of the company’s paid up capital. It plans to attract institutional investors in the near term;

131.The deadlock in the proposed consolidation of water assets in Selangor may have been broken with all the parties close to agreeing on pricing, and ironing out the issues of operations and maintenance (O&M) … KPS/JAKS/Puncak Niaga/KHSB;

132.Speculation is rife that KEuro is close to finalizing its bid for the rm3 billion Westcoast Expressway (WCE), and in driver’s seat is KEURO’s largest shareholder Tan Sri Chan Ah Chye;

133.Tradewinds (M) Bhd will trim its stake in Bernas to shed some debts;

134.Scomi Engineering Bhd is planning to propose a monorail system in Greater KL to support the proposed MRT project under the 10MP. Scomi International is also eyeing a major monorail construction project in Chennai;

135.Gamuda-MMC JV has been bandied about for the MRT project — Gamuda Bhd and MMC Corporation Bhd. UEM Group Bhd is also keen to bid for the RM43 billion KL MRT project;

136.MBSB plans to become a full-fledged bank. Currently (April 2010), they are just at the discussion stage and have not submitted anything official as it will require shareholders' approval first;

137.QL Resources Bhd acquired 11 million shares or 23.29% of Lay Hong Bhd. Will QL Resources would increase its stake in Lay Hong or seek board representation;

138.Scomi Engineering consortium was the second lowest bidder RM3 billion Tiradentes monorail project in Sao Paulo , Brazil , in the first round, but with their specifications complying with the requirements of the Brazilian authorities. The lowest bidder, it seems, had fallen short on certain counts;

139.MRCB is front runner in acquiring several parcels of land in KL and Selangor, including 60.7ha in Jalan Cochrane, an 8 ½ ha tract in Jalan Ampang Hilir and another 400ha in Sungai Buloh under the purview of the Rubber Research Institute of Malaysia. It will also likely receive a sizable portion of MRT Construction works for the portion leading to the RRIM land. Another wildcard could be MRCB’s involvement in the redevelopment of Pudu Jail given its prior work for Gaya Bangsar condominium;

140.IOI Corporation Bhd may write back the impairment loss made in the financial year ended June 30, 2009 (FY09) on a joint-venture property project in Singapore towards the end of the current financial year (2010) since the value of property has risen in the island state;

141.Ingress’s power engineering and projects division is expecting significant progress on the Ipoh-Padang Besar double-tracking project for System Works. New awards are expected to materialize;

142.Faber declined to confirm nor deny speculation that it may be buying Pantai Holdings Bhd’s Malaysian government concession business. Pantai Holdings Bhd does not rule out selling its concession business "if the price is right"