Maxis Bhd (RM6.40/share)
Signs strategic partnerships to deliver IPTV service
Maxis Bhd yesterday signed new strategic partnerships with 14 content providers, tondeliver the Internet Protocol Television (IPTV) service in Malaysia. The content partnerships will enable Maxis, an integrated communications service provider to deliver on-demand movies and series, including high definition and 3D content as well as seven free-to-air channels, to its customers anytime and anywhere. Among the partners are Radio Television Malaysia (RTM), Media Prima Bhd, Brilliant Pictures, Vision Plus Entertainment Sdn Bhd, Travel Channel International Limited and All Asia Multimedia Networks FZ-LLC. ' Bernama
Tanjung Offshore Bhd (RM0.77/share)
Looks for acquisition targets
Tanjung Offshore Bhd's executive director Eric Tan said the company is looking for acquisition targets to grow its non-marine business after the divestment of its fleet of offshore support vessels to Ekuinas Nasional Bhd. Tan also said that Tanjung Offshore was keen on forming joint ventures with other entities. The group will fund these acquisitions with the proceeds from the disposal of its wholly-owned subsidiary Tanjung Kapal Services Sdn Bhd to Kota Bayu Ekuiti Sdn Bhd (KBE), a wholly-owned subsidiary of Ekuinas Capital Sdn Bhd's unit E-Cap (Internal) One Sdn Bhd. Tanjung Offshore will receive RM260.0mil from the transaction and half of which will be disbursed to shareholders through a special dividend of 44 sen per share. ' The Edge
AirAsia Bhd (RM3.59/share)
Virgin Atlantic exits AirAsia X
Sir Richard Branson's Virgin Atlantic Airways Ltd is expected to divest its 10% in AirAsia X Sdn Bhd to local existing shareholders for more than RM66.0mil (US$21.0mil). This comes after AirAsia X prepares for listing at the end of this year. A financial executive familiar with the transaction said AirAsia X is expected to make the announcement on this development in the next few days. He added that the stake will be taken up by Aero Ventures Sdn Bhd and AirAsia on a pro rata basis. The executive said after the share sale, several individuals, including Tan Sri Tony Fernandes and his partner Datuk Kamarudin Meranun, will collectively hold 60% of AirAsia X. The remaining 40% will be held by AirAsia Bhd, Japan's Orix Group and Bahrain-based Manara Consortium. ' The Edge
Construction Sector
MTD to commence construction of MRT V7 package in August
Bumiputera construction company, MTD Construction Sdn Bhd expects to start work on the mass rapid transit (MRT) V7 viaduct package, worth RM499.98mil, from Bandar Tun Hussein Onn to Taman Mesra in Cheras on August 7. Executive vice president head, construction and contracts division Ir Md Shukor Mohamed said the viaduct work stretched approximately 3.83 kilometres and will be the alignment for two MRT stations near Balakong and Taman Koperasi in Cheras. He added that this package is part of the exclusive Bumiputera package that makes up 43% of the total value of the MRT project. The V7 package, awarded to MTD by MRT Corp Sdn Bhd in May this year, is expected to be completed in the second quarter of 2016. To date, MRT Corp has awarded RM13.8bil worth of work comprising the V1, V4, V5, V6 and V7 packages. - Bernama