Bandar Raya Development Bhd (BRDB) is one step closer toselling off its four prime assets via an open tender, after the companyannounced the appointment of its legal and financial advisers to assist in thedeal. In a filing with Bursa Malaysia, the company said it was working with LeeHishammuddin Allen & Gledhill and CIMB Investment Bank Bhd to assist in theproposed disposal. It said the board had decided to proceed with the proposeddisposal, while noting that Ambang Sehati Sdn Bhd had to-date been unable toconfirm its plans to increase its stake in BRDB. - StarBiz

Oversea-Chinese Banking Corp Ltd (OCBC) has emerged as asubstantial shareholder in construction company WCT Bhd, after it acquired5.01% stake in WCT.  WCT said theSingapore-based bank had acquired 40.9 million shares in the open market on Monday.The closing price for WCT shares on Monday was at RM2.51. Meanwhile, WCT alsoinformed that Kumpulan Wang Persaraan (KWAP) had acquired a total of 2.1million shares on Wednesday and Thursday last week. As a result, KWAP now holdsa 6.04% stake in WCT. ' StarBiz

The Malaysia Competition Commission (MYCC) saidinvestigations into the share agreement between Malaysia Airlines (MAS) andAirAsia Bhd is still ongoing. MYCC commissioner Datuk Dr S. Sothi Rachagan saidthe investigation would take a longer time as it was a complex processinvolving an examination of agreements. Domestic  Trade, Cooperative and Consumerism MinisterDatuk Seri Ismail Sabri Yaakob has said the MYCC investigation into theshare-swap deal would focus on whether it involved an abuse of monopoly orformation of a cartel. - StarBiz

Syarikat Prasarana Negara Bhd will work with a localproperty developer to build a RM200.0mil high- rise mixed development projectover its underground Dang Wangi light rapid transit (LRT) station. Managingdirector Datuk Shahril Mokhtar said they had made the decision last week inselecting the best developer to work with Prasarana and due announcement wouldbe made soon. This property venture will be the first for Prasarana that isexpected to enhance its revenue stream. It was previously reported that UDAHoldings Bhd was one of the developers that had sent a proposal to Prasarana tojointly develop the 11,008 sq m. Previous reports also described that the DangWangi development might be emulating the Kuala Lumpur City Centre withunderground LRT. Going forward in this new venture, Prasarana would also belooking at other locations with potential to have property developmentsespecially in high traffic areas such as Ara Damansara, Subang Jaya KTM stationand Awan Besar along the Kesas Highway. - StarBiz

Source: AmeSecurities