Some 20.74 million shares or a 15.4% stake in Sarawak Cable Bhd were traded offmarket yesterday. Penang-based Leader Universal Holdings Bhd is believed to have disposed of the shares. The tranche worth RM35.3mil crossed off-market at RM1.71 per share, a 10.5%-discount to the current market price of RM1.91. Sarawak Cablewas untraded on the open market yesterday.

According to Bloomberg data, Leader Universal has a 15.4% stake in Sarawak Cable. At this juncture, the acquirer of the block of shares cannot be determined yet. Bursa Malaysia filings show that Sarawak Energy Bhd (SEB) is the largest shareholder of Sarawak Cable with 21.56% stake, followed by Datuk Seri Mahmud Abu Bekir Taib (19.35%) and Central Paragon Sdn Bhd (12.51%). The off-market transaction raises speculation that Leader is realising its passive investment in Sarawak Cable because the 15.4% block does not give the company any management clout or allow it to consolidate its share of earnings from Sarawak Cable into its account.  ' The Edge

Malaysia's automotive industry is expected to contribute 6% to 8% to the country's gross domestic product (GDP) by 2020 from 2.4% currently by increasing foreign direct investments (FDIs) which will lead to increased exports and competition in the sector.

Malaysia Automotive Institute (MAI) chief executive officer M. Madani Sahari said the goal is to make Malaysia a regional hub for EEVs, with high technology uptake among industry players for domestic, regional and international exports. To attract high-tech automotive component makers to invest in Malaysia, new licences will be given to foreign original equipment manufacturers that use Malaysia as their EEV production base. This will also encourage strategic domestic direct investments and enhance competitiveness through joint ventures, technology acquisitions and consolidation.

It is learnt that the NAP is now at its final stage, following a review to resolve structural issues such as lack of scale, technology, supply chain and human capital development. It is also learnt that the government will lift the freeze on manufacturing licences in all categories within the EEV segment. ' Business Times

AirAsia and Malaysia Airlines are currently discussing ways to create intensive collaboration areas while maintaining a win-win situation. AirAsia Chairman Datuk Aziz Bakar said discussions are currently ongoing between both parties, without any sort of interference from the government. He also said no exact timeline can be stated for the moment.

Aziz Bakar added that its long-haul affiliate AirAsia X would not revive its currentlysuspended routes to Mumbai, New Delhi, Paris and London. - Bernama 

Source: AmeSecurities