MTD Cap joint venture company in the Philippines continues to receive opposition to its toll hike at South Luzon Expressway (SLEX). The highway owner and operator told Bursa Malaysia yesterday that its subsidiary MTD Manila Expressways Inc had received a copy of a second supplemental petition for the issuance of a temporary restraining order (TRO) and/or status quo ante order to restrain the implementation of the 290% rise in toll fees at the SLEX.
Maxwell International Holdings – a China-based sports footwear manufacturer – will be listed on Thursday. Its offer of 20 million new shares was undersubscribed, with applications for 18.015 million shares. The IPO consisted of a public issue of 63.75 million new 40 sen shares at an offer price of 54 sen each.
The Edge FinancialDaily also reports that the severe flooding in Australia has resulted in a dip in Tenaga Nasional Bhd's (TNB) share price on the back of rising coal prices following a supply disruption, although this could represent an opportunity to accumulate shares in the national utility company, say some analysts.
CHUAN HUAT RESOURCES BHD’s rights issue of 41.79 million warrants was oversubscribed by 16.45 times. The total acceptances and excess applications received for the rights issue was for 729.26 million, or 1,745.10% of the 41.79 million warrants available.
UMW Holdings, a vehicle assembler and industrial equipment maker, plans to revisit the listing proposal of its oil and gas unit once the division returns to the black this year. The unit, known as UMW Oil & Gas Bhd, which houses exploration operations, fabrication and pipe-manufacturing businesses, is expected to be profitable again by June this year in line with an industry wide turnaround, according to UMW president and group CEO Datuk Syed Hisham Syed Wazir. The move to spin off its oil and gas unit has been delayed several times after the plan was made public in 2008, with officials citing unfavourable market conditions and sentiment for the postponement.
Telekom Malaysia Bhd was served with a RM25m judgement in default on Monday by a local technology company, which it intends to set aside. AINB Tech (M) SB had served the judgement dated 2 Dec 2010, which included claims for expenses incurred for the purpose of a project known as ‘supply, delivery, installation, testing, commissioning and support of One Number Service’ between the two parties, Telekom said in a Bursa Malaysia filing, yesterday.
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