FBMKLCI: 1496.65 DJ: +173.35 CRUDE OIL: 82.84 RM: 3.113

KNM 100% subsidiaries, KnmPS won the bid for the supply of technical documentation, equipment and services for the development of gas condensate fields i.e. Adamtash, Gumbulak and Djarkuduk Yangi Kizilcha in the Republic of Uzbekistan amounting to about USD216 million (RM680m) for a duration of 2 years from Lukoil Uzbekistan Operating Company, starting now.

AirAsia X, will start flying to Paris from next Valentine's Day, more than a year after getting the rights to do so. The carrier will start four times weekly direct flights from 14 February 2011, between Paris-Orly International Airport and Kuala Lumpur International Airport's low cost carrier terminal. Yesterday, the airline announced that it would launch the route with an all-in-fare from RM499 one way. It is available for booking online from 22-24 Nov 2010. This will be the carrier's second European destination after London. The new route will be serviced by the Airbus A340 aircraft with 327 passenger capacity including 18 premium seats.

LHH has received an offer from Emerging Glory s/b to acquire the company's entire business, including all assets and liabilities, for RM318.6mil. Based on the issued and paid-up capital of Leong Hup as at Nov 18, the purchase consideration worked out to RM1.80 per share, Leong Hup told Bursa Malaysia yesterday. According to Emerging Glory's offer letter, it planned to pay RM169.7mil in cash while RM148.9mil would be considered as debt due to Leong Hup. In a separate filing with Bursa, Emivest Bhd has also received similar takeover offer from Emerging Glory for RM108mil which is inter-conditional with the Leong Hup's offer.

Shares of MRCB and IJM Land perked up amid a weak broader market yesterday after a popular finance blog speculated on a possible merger. The rise comes as retail investors have become more active in the market recently. Last month, they accounted for almost half of the volume traded. IJM securities, namely the mother share and the warrants, were among the top 10 most-actively traded securities yesterday. Meanwhile, MRCB, the master developer for the KL Sentral development in Brickfields, ended the day 9 sen higher at RM2.10 with more than 11m shares traded. The Malaysia-Finance Blogspot, under a post headlined "Does a MRCB-IJM Land merger make sense?” noted that "the word had switched from an IJM Land privatization to a merger with MRCB. Something along the lines of a UEM Land-Sunrise deal it seems". Early this month, UEM Land Holdings launched a RM1.4bn conditional takeover offer for Sunrise.