The Star

Sime denies port buy report

KUALA LUMPUR: Sime Darby Bhd yesterday denied a news report that it is negotiating to take over Penang Port.

“The company is exploring various opportunities for expansion of its port operations. However, to date, no formal negotiations with the authorities have been initiated,” it told Bursa Malaysia. – Bernama

Laureate and INTI sign SPA

PETALING JAYA: Laureate Education Inc, the world's largest operator of private international universities, yesterday signed a definitive sale and purchase agreement (SPA) with the major shareholder of private college operator INTI Universal Holdings Bhd.

The SPA was between Future Perspective Sdn Bhd, an entity controlled by Laureate, and INTI Supreme Holdings Sdn Bhd, the controlling shareholders of INTI.

It involves the purchase of 105.5 million shares representing 51.19% in INTI for an aggregate purchase consideration of RM126.6mil, or RM1.20 per share.

SapuraCrest wins O&G job

KUALA LUMPUR: SapuraCrest Petroleum Bhd's unit TL Offshore Sdn Bhd has been awarded a contract from Talisman Malaysia Ltd for the provision of a pipelay/derrick barge.

The contract is worth US$25mil to US$30mil, SapuraCrest said in a statement yesterday.

It is meant for the Talismans' Block PM3 CAA Northern Fields Development project, located in the South China Sea between Malaysia and Vietnam, about 150 nautical miles east of Kota Baru. – Bernama

Success to acquire land

KUALA LUMPUR: Success Transformer Corp Bhd, via its subsidiary Seremban Engineering Sdn Bhd (SESB), will acquire a RM1.42mil freehold land in Senawang, Negri Sembilan, to house its new factory.

The 2.61-acre land is next to SESB's existing process equipment plant, Success Transformer, a low-voltage transformer and industrial lighting manufacturer, said in a statement yesterday.

”Upon completion of the construction by September, the new factory will increase SESB's total capacity by about 20%,” it added. – Bernama

Tasco makes PFSB subsidiary

KUALA LUMPUR: TransAsia Shipping Corp Bhd (Tasco) has acquired the remaining 67.5% equity interest in its associate company Precious Fortune Sdn Bhd (PFSB), making it a wholly-owned subsidiary, for RM5.74mil.

Managing director Lee Check Poh said the acquisition would allow Tasco to save about RM1mil in rental expenses annually. – Bernama

BLand places out RM250m ICULS

PETALING JAYA: Berjaya Land Bhd’s wholly-owned subsidiary, Immediate Capital Sdn Bhd, has placed out a total of 50 million units of irredeemable convertible unsecured loan stocks (ICULS) at RM5 per ICULS via direct business transaction for a total cash consideration of RM250mil to Goldman Sachs International.

The cash consideration was arrived at after taking into consideration inter-alia the market price, net assets and the earnings potential of the BLand Group, the company told Bursa Malaysia yesterday.

The carrying value of 50 million units of ICULS in the books of Immediate Capital, which were acquired between July 2002 and October 2007, is about RM50mil, it added.

Bursa starts de-listing procedure

PETALING JAYA: Bursa Malaysia Securities Bhd said it had started de-listing procedures against Megan Media Holdings Bhd.

The stock exchange said in a statement yesterday that Megan Media had been served with a notice to make representations as to why the company’s securities should not be de-listed from the official list of Bursa Securities.

Due process was therefore accorded to the company prior to making a decision on whether to de-list the company’s securities from the stock exchange, it added.

Bursa defers PWE suspension

PETALING JAYA: Bursa Malaysia Securities Bhd announced yesterday that the suspension on the trading of the securities of PN10 firm PWE Industries Bhd would be deferred with effect from 9am on Friday.

The stock exchange announced on Feb 14 its decision to suspend trading in the shares of PWE, which on Feb 19 appealed to defer the suspension.