FBMKLCI 1515.05 DJ+26.33 CRUDE OIL 90.55 RM 3.10

The battle for PLUS Expressways, Southeast Asia's biggest toll highway company, is likely to go down to the
wire as the deadline looms at 5pm today. UEM Group and the Employees Provident Fund (EPF), which have bid RM23bn or RM4.60 a share, is pitted against little-known Jelas Ulung SB’s RM26bn, or RM5.20 apiece offer. PLUS will seek to suspend its shareholder meeting today to evaluate all takeover offers. It will then call for a fresh EGM in early January.

Jelas Ulung likely to deposit RM50m for PLUS bid. In positioning itself as a serious bidder for PLUS Expressways Bhd, privately-held Jelas Ulung Sdn Bhd is likely to submit a RM50 million cash deposit and meet the minimum disclosure requirements stipulated by the toll concessionaire's board, sources said.

Boustead Holdings has signed a memorandum of understanding with DRIR Equities SB and Tulus Sejagat SB with the intention to buy a 51% stake in MHS Aviation and a 51% stake in a special purpose vehicle that will purchase all the aircraft and helicopters owned by DRIR Equities. The entire acquisition is not expected to
exceed RM100m.

UEM Land Holdings has received shareholders’ approval for the proposed acquisition of property developer, Sunrise for RM1.39bn, or RM2.80 per share. “The extraordinary EGM resolution for the takeover has been passed by shareholders along with the special resolution to increase our share capital,” UEM Land chairman, Tan Sri Dr Ahmad Tajuddin Ali told reporters.

Berjaya Corp (BCorp) has hired investment bankers to look into the possibility of undertaking a corporate exercise that could see the entry of strategic private investors into the group’s cash cow Berjaya Sports Toto (BToto), said sources. “A foreign investment bank has been appointed to look into the job. The strategic privatevinvestors that could emerge in the company include foreign investors. The bankers are exploring a few possible corporate exercises, which include the one Magnum (Corp) underwent a couple of years back that had involved its privatisation,’ said a source.