Summary of Financial Highlights : EPF and RHB denies plans to buy over CIMB, FBM KLCI hits historic high, DRB - HICOM completes its acquisition of 32.2% in Pos Malaysia, Wah Seong gets Aussie pipe - coating deal, Magna Prima plans project in Australia, Petronas job for Tanjung Offshore...

EPF and RHB denies plans to buy over CIMB

The chairman of the Employees Provident Fund (EPF) and the top executive of RHB Capital Bhd have categorically denied speculation that both parties are involved in a takeover bid of the country ' s second largest bank CIMB Group Holdings. Tan Sri Azlan Zainol dismissed the news as “ pure speculation, ” denying that there was indeed such a plan. RHB Capital managing director Kellee Kam also replied that the bank was not in discussions with CIMB. (StarBiz)

FBM KLCI hits historic high

The FBM KLCI ended trading at another historic high on Friday, closing at 1,582.94 after closing at fresh highs on Wednesday and Thursday on persistent buying interest of select bluechip stocks. In general, the local scenario mirrored sentiments among investors abroad after Greek lawmakers passed further austerity measures which then calmed markets globally. (StarBiz)

DRB - HICOM completes its acquisition of 32.2% in Pos Malaysia

DRB - HICOM Bhd announced on Friday that it has completed its acquisition of a 32.2% stake in Pos Malaysia from Khazanah Nasional. This means DRB - HICOM has replaced Khazanah as the single largest shareholder of Pos Malaysia. To recap, in April, DRB-HICOM made a successful bid to acquire Khazanah’s stake in Pos Malaysia for RM622.8m (based on the price of RM3.60 per Pos Malaysia ' s share). (StarBiz)


Wah Seong gets Aussie pipe - coating deal
Wah Seong Corp ' s pipe - coating business unit has been awarded a RM137m contract by Australia Pacific LNG Pty Ltd. The contract will involve providing pipeline coatings for the Australia Pacific LNG project in Australia. (StarBiz)

Magna Prima plans project in Australia

Magna Prima will embark on its maiden overseas venture in Melbourne, Australia, with a proposed AUD210m development, Dynasty Living. The company said in a statement the 25 - storey, single - tower apartment project would be built on a 2,700 sq m site. It will feature 320 units, inclusive of one to three - bedroom apartments, and a two-storey penthouse. Construction is expected to commence in the fourth quarter and the development is expected to be completed in 2013. (StarBiz)


Petronas job for Tanjung Offshore
Tanjung Offshore Bhd has secured a RM50m contract from Petronas Carigali DB to provide three offshore support vessels for total charter contracts of periods ranging between one and three years. The company announced its unit Tanjung Offshore Services SB was awarded the contract to provide the ships for the primary period from June to July respectively with options to extend between one and two years. (StarBiz) Please see accompanying report


Oldtown IPO oversubscribed
Oldtown, en route to a listing on Bursa Malaysia Main Market on 13 July, had its initial public offering oversubscribed by 10.8x. The Oldtown White Coffee cafe chain operator and instant beverage mix manufacturer received 9,366 applications for 117.64m shares with a total value of RM147.1m for the public tranche of 10m new shares under its IPO. (StarBiz)


Sabah firms win RM515m contracts

Sabah-based companies have won contracts worth RM515m for the Sabah Oil and Gas Terminal (SOGT) project in Kimanis, Papar. Of the total, RM220m were awarded by Petronas Carigali SB while RM295m were given out by the main SOGT contractor, Samsung-Naim-Petronas Carigali consortium, said Petroliam Nasional Bhd (Petronas) Sabah and Labuan general manager Joseph Podtung. On Friday, Petronas signed a RM57.3m contract with Ladang Sri Delima SB for the construction of an administration building for the SOGT project. (StarBiz)