Jerneh: Cash rich Jerneh's proposal to buy a Sabah based developer is said to be out of the window as definite terms could not be agreed upon despite extensive discussions (However this could not officially confirmed), opening the possibility of a capital repayment to shareholders, if necessary approvals are granted. Jerneh's officials declined to comment saying that an update announcement will be made soon to Bursa Malaysia.

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It could not be immediately ascertained whether Jerneh is eyeing any other acquisition or will continue with its earlier stated plans to return all cash to shareholders and wind up the company if the deal falls through. The cancelation of the deal if true, would not have any impact on shareholders of Jerneh, as it should not affect its capital repayment exercise. The exercise was meant to give Sagajuta a clean backdoor listing vehicle via Jerneh.

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The original exercise was structured to the benefit minority shareholders by returning cash to them first and then giving the takeover party a clean shell for their assets. Almost all of Jerneh's cash would have been distributed to its shareholders under the original plan anyway.

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Malton: The positive sentiment from news that Pavilion REIT may debut on Bursa Malaysia as early as Nov 2011 appears to boost its share price. Pavilion REIT ' part owned by Qatar Investment Authority as well as Malton's chairman Desmond Lim and his spouse ' was looking to raise rm800 million from a planned floatation of Pavilion REIT.'' Based on Malton's net asset value of rm1.46 as at June 2011, it was trading at 0.42 times its book value. The stock was trading at 2.9 times historical earnings.

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The company said that its ongoing development projects with its ongoing construction and project management contracts were expected to contribute positively to its earnings for financial year ending June 30, 2012.

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ENG: The privatization has been delayed due to disrupting of its Thai operations due to the floods. TYK Capital Sdn Bhd sought to extend the due diligence and funding confirmation period by 45 days due to the disruption of floods at its Thai operations. The Thai operations contributed about 40% to the group revenue for FY10 ended Dec 31. While the damage and losses could not be ascertained yet, the floods would have a negative impact on its FY2011 ending Dec 31 results.

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Sanachi: Classified as a Guidance Note 5 (GN5)-status company since October 2010 for having defaulted in the payment of borrowings, the private placement was crucial to ensure continued operations for the group. Among other things, Sanichi is currently in talks with German automotive vendor, Projektarbelt Tecnhische Beratung Venretung International (Protev) which is currently conducting due diligence on Sanichi with the view of making a strategic investment. Due diligence is expected to be completed in 1Q12.

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SP Setia: The market was awaiting Liew's decision on PNB's general offer proposal. The decision could be made anytime from now (13 Oct 2011) till Oct 28 2011 when SP Setia's independent adviser (IA) is expected to release its recommendation to shareholders on whether they should accept PNB's GO. PNB is desire to retain Liew and S P Setia's management, while PNB's involvement would only be through board representation. There are two outcomes: a) Tan Sri Liew stays on and does not sell any shares, and b) he stays on but sells part/all of his entire 11.3% stake. The market would be pricing a steeper discount to the share price if the second outcome materializes.

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Genting Malaysia: The Genting Group has moved closer to its plan for the US$3.8 billion Resorts World Miami project in Florida after reaching a deal with a property owner. The Genting Group had reached an agreement with the owner of the Omni Center to move forward on a friendly foreclosure on the property. The centre was set to be auctioned on Oct. 27 2011. If all goes according to plan, Genting should have title to the property by Nov. 7 2011. The Omni purchase would be used by Genting to leverage in its quest to gain approval from state legislators for a gaming licence by providing an immediate source of new revenue and jobs.

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YTL Power: YTLP's shareholders may embark on corporate exercises to capitalise on its currently attractive valuations. Also, it is studying the possibility of acquiring distressed utility assets in Europe.