Media Highlights : MSC Singapore IPO shares priced at SGD1.75, Bina Puri unit buys land in KK for RM4.5m, EISB in deal with leading British engineering school, GSB to sell land, hotel for RM22m, McDonald's Malaysia expects 15-20% increase in sales, All vehicles must be fitted with air bags from.....

MSC Singapore IPO shares priced at SGD1.75
Malaysia Smelting Corp’s (MSC) public offering shares for a secondary listing on the Singapore Exchange Securities Trading Ltd (SGX) have been fixed at SGD1.75, or RM4.17 a share. The company told Bursa Malaysia yesterday that the issue price was a discount of about 12.21% to the five-day volume weighted average price up to and including 19 Jan of RM4.75 per share. It said that the issue price was arrived at after a book-building process that was determined based on the demand by institutional and selected investors in Singapore and after taking into consideration the market price of MSC shares. The public issue will consist of a public offer of 1m shares in Singapore and a placement of 24m shares to investors, including institutional and other investors in Singapore. (StarBiz)

Bina Puri unit buys land in KK for RM4.5m
Bina Puri Holdings said its wholly owned subsidiary, Bina Puri Properties SB, has acquired a parcel of land in Kota Kinabalu, Sabah of about 1.95 acres for RM4.5m. Group managing director Tan Sri Tee Hock Seng said in a statement yesterday that the land would be developed into a serviced residence, with an estimated gross development value of about RM60m. The land will be used for the development of one block of service apartments consisting 100 units with sizes ranging from 1,500 sq ft to 4,500 sq ft. The land will be developed into a serviced residence, with an estimated gross development value of about RM60m. (StarBiz)

EISB in deal with leading British engineering school
EDUCATION@Iskandar SB (EISB) is on track in its aim to position Iskandar Malaysia's EduCity in Nusajaya as the leading knowledge hub in the region with the latest agreement between the group and one of Britain's top engineering schools. EISB today welcomes The School of Engineering Sciences, University of Southampton, as its latest partner to establish its first out-of-campus school in Nusajaya. Two other faculties that have so far made their commitment to build their campus in EduCity are Newcastle University of Medicine (NUMed) and the Netherlands Maritime Institute of Technology (NMIT). (Business Times)

GSB to sell land, hotel for RM22m
GSB Group's unit, Serta Usaha SB (SUSB), has entered into a conditional sale and purchase agreement with Leopad Holdings SB to sell its property, comprising land and a 13-storey hotel, for RM22m cash. The property is situated in Jalan Kapar, off Jalan Syed Putra, in Kuala Lumpur. GSB, in a filing to Bursa Malaysia yesterday, said the proposed sale is expected to be completed within eight months from the date of the agreement. (StarBiz)

McDonald's Malaysia expects 15-20% increase in sales
McDonald's Malaysia expects to achieve a 15%-20% increase in sales this year, to be driven by a series of innovative ways the company is coming out with to pump up sales. Its managing director Sarah Casanova said that last year, McDonald's Malaysia for the first time in the 29 years of its presence here, surpassed the RM1bn mark in sales. The figure was an increase of 24% from the previous year. She said the fast food company also planned to open 21 new restaurants nationwide and remodel 13 existing restaurants this year as part of its seven innovative ways to strengthen further its presence. (Bernama)

All vehicles must be fitted with air bags from next year
All vehicles, except four-wheel drives, will be required to be fitted with airbags from next year, Transport Minister Datuk Seri Kong Cho Ha said Friday. He said the measure was to reduce risks of death in road accidents. Kong said his ministry would ensure that vehicles manufactured in the country and the national car were equipped with safety airbags before the new regulation was enforced. He said there would be no problem with imported vehicles as most of them came equipped with safety bags. (Bernama)

Salcon aims for 40% revenue contribution from overseas
Salcon is aiming for a 40% contribution to revenue from overseas operations in two to three years, from the current 20%, by securing new water-related contracts in countries like China and India. Executive director Datuk Eddy Leong Kok Wah said the company saw great business opportunities in the water industry regionally as well as domestically, and would be more aggressive in looking out for such jobs going forward. “We have identified three to four projects in China and hopefully, we will be able to finalise one or two deals in these two months’, he told reporters after the company's EGM yesterday. On the local front, Salcon is bidding for the RM1.2bil water treatment plant project under the Langat 2 project with MMC Corp. Salcon subsidiary Salcon Engineering had in November last year been awarded a water-related contract worth RM52.5m from Air Kelantan SB. (StarBiz)

Naim Holdings to develop prime land in Batu Lintang
Sarawak-based Naim Holdings Berhad (Naim) will develop prime land in Batu Lintang, Kuching, into the state's biggest comprehensive mixed development project, costing more than RM300m. Managing Director Datuk Hasmi Hasnan said the proposed development would be sprawled over 13.597 hectares and be completed over 20 years. The project will comprise a four-storey shopping mall with basement car park, office tower block, hotel tower, a 36-storey office tower with basement and elevated carpark, showroom, an 18-storey condominium and a 27-storey high-rise apartment. "We will incorporate a water theme park, a roof garden and incorporate plenty of greeneries so as to come out with a development that is environmental friendly and one that the local populace can enjoy and benefit from," he said. (Bernama)

TEB to raise RM300m from stake sale
Time Engineering Bhd (TEB) expects to raise RM300.57m for the sale of its entire equity stake in TimedotCom Bhd (TdC) to the former's shareholders. The proposed offer for sale will involve a renounceable offer for sale by TEB of up to 626,181,720 ordinary shares of RM1 each in TdC at an offer price to be determined, payable in full upon acceptance, on the basis of eight offer shares for every 10 ordinary shares of 20 sen each in TEB held by the shareholders of the company at a date to be determined. TEB told Bursa Malaysia yesterday that the proposed offer for sale would enable the company to divest its stake in TdC in a manner that would provide the entitled shareholders with an opportunity to have a direct participation in the prospects and future performance of TdC at a discount to the market price. (StarBiz)