FBMKLCI 1510.06 DJ +13.32 CRUDE OIL 88.74 RM 3.113

The federal Cabinet has agreed in principle to a revision of electricity tariff but has not decided when it should take place. Energy, Green Technology and Water Minister Datuk Seri Peter Chin Fah Kui said an electricity tariff revision was on the cards but the Government had not decided when. He said there were many issues that the Government needed to address before a time could be set for the revision.

Dayang Enterprise Holdings Bhd is disposing of its 40% stake in Syarikat Borcos Shipping Sdn Bhd to AWH Equity Holdings Sdn Bhd for RM135mil.

Tan Sri Syed Mokhtar Al Bukhary is believed to be considering taking auto and banking group DRB-HICOM private, people familiar with the plan said yesterday. It is further believed that the tycoon is being advised by Maybank Investment Bank on the plan, which could cost him close to RM2bn. Sources said the offer will be comparable to DRB-HICOM's NTA value, which stood at RM2.50 as at end of September this year. As at July this year, Syed Mokhtar held a controlling 55.9% of DRB-HICOM, via privately held Etika Strategi SB.

Paramount Corp Bhd announced yesterday a special dividend of 40 sen per share, less tax at 25%, for the year ending Dec 31, 2010.

Alam Maritim Resources has seen its share price plummet on potential debt write-offs owed by Vastalux SB, a debt-ridden subsidiary of another O&G firm, Vastalux Energy. It is mulling a provision for the total debt owed by Vastalux this fiscal year and may even consider liquidating Vastalux given the remote chance of the former recovering its debt.

KFC India, a subsidiary of Kuala Lumpur-based KFC Malaysia, has been operating in India since a year, and has already opened six stores in the state of Maharashtra - four in Mumbai, one in Pune and one in Aurangabad. It has plans to increase its number of stores to 17 next year, says Hezal Ahmad, CEO of KFC
India.

Proton’s subsidiary Group Lotus plc will buy a major equity stake in the Renault F1 team, which will be renamed Lotus-Renault GP team, from the start of the 2011 Formula 1 season onwards. Group Lotus will buy a 25% stake from Luxembourg-based investment group Genii Capital. The price tag was not mentioned.

Bina Puri Holdings Bhd has won a Stormwater pipeline project worth 23.99 million riyal, or about RM19.91mil, from the Saudi Arabia’s City Council of Northern Border (Turaif), through its associate company, Bina Puri Saudi Co Ltd.

Hartalega Holdings has clarified that its factory in Ijok, Kuala Selangor, has never been ordered to close, suspended, nor issued serious warnings of any kind. In a statement issued yesterday, its executive director Kuan Mun Leong categorically denied the allegations reported to have been made by Deputy Minister at the Prime Minister's Department Datuk T. Murugiah and some residents of Taman Suria.