00:00 [Music]
00:04 Conglomerate Siam Dhabi announced it is selling its interest in Ramsey Siam Dhabi Healthcare
00:09 to Columbia Asia Healthcare for RM5.7 billion,
00:13 marking its exit from the healthcare business.
00:16 Ramsey Siam Dhabi Healthcare is a 50-50 joint venture between Siam Dhabi and Ramsey Healthcare.
00:22 In a statement, Siam Dhabi said its unit, Siam Dhabi Holdings,
00:26 together with Ramsey subsidiary A.H. Holdings Healthcare,
00:30 inked the sale and purchase agreement with Columbia Asia.
00:33 The group said the deal will enable it to unlock the value of its healthcare assets,
00:38 which have previously been deemed non-core,
00:40 with a RM2 billion gain on disposal of the stake.
00:43 Ramsey Siam Dhabi Healthcare operates four hospitals in Malaysia and three hospitals in Indonesia.
00:50 Group CEO Datuk Jeffrey Salim Davidson said,
00:53 "While the hospital business is a great asset,
00:55 the conglomerate has always maintained its focus on its core trading businesses of motors and industrial."
01:02 He said the offer from Columbia Asia was one it could not refuse.
01:06 The deal is expected to be completed in the third quarter of 2024.
01:10 Siam Dhabi last traded at RM2.34, valuing it at RM15.95 billion.
01:17 [Music]
01:22 LTAT has issued an unconditional mandatory takeover offer notice
01:27 to acquire the remaining shares it does not own in Baustad Plantations
01:31 for a cash price of RM1.55 per share.
01:34 The cash price represents a 21.09% premium over Baustad Plantations' net assets per share of RM1.28,
01:42 and is 1.3% higher than the conglomerate's closing price of RM1.53.
01:47 LTAT's notice follows the Armed Forces Fund Board's agreement with Baustad Holdings
01:52 to buy 739.2 million shares, or a 33% stake in its plantation arm,
01:59 after the RM1.15 billion takeover deal by Kuala Lumpur-Kepung fell through last month.
02:05 The acquisition takes LTAT's shareholding in Baustad Plantations to 976.41 million shares,
02:12 representing a 43.59% stake.
02:16 LTAT said the offer represents a significant step forward in its overall restructuring
02:21 and turnaround of the Baustad Group,
02:24 and in rebalancing the Pension Fund Board's investment portfolio to better position the fund
02:29 vis-à-vis the risk-return profile.
02:31 The offer also provides it greater flexibility in setting the strategic direction of Baustad Plantations
02:38 and accelerating the value creation plans that meet LTAT's objective.
02:43 [Music]
02:48 Maxis said net profit for the third quarter of FY2023 shrank 6.8% to RM287 million
02:56 due to restructuring charges related to cost optimisation initiatives.
03:01 Quarterly top line grew by 1.5% to RM2.44 billion,
03:05 driven by its service revenue growth of 1.8%,
03:08 which was underpinned by steady growth in its consumer and enterprise revenue.
03:13 The telco declared a third interim dividend of RM4 per share,
03:17 bringing the total dividend declared year-to-date to RM12.
03:21 For its FY2023 outlook, Maxis forecasts its service revenue to experience a low single-digit increase
03:28 and flat EBITDA.
03:30 It also expects its CAPEX spending to be slightly less than RM1 billion.
03:35 Maxis CEO Goh Siao Eng said the group delivered stable growth in an intensively competitive
03:41 operating environment and is seeing good take-up of its recently launched 5G and new fibre plans.
03:47 He added that the telco's priority is to focus on operational excellence
03:52 and to meet the connectivity needs of its customers.
03:55 At the close, shares in Maxis were unchanged at RM4.03,
03:59 giving the group a market capitalisation of RM31.56 billion.
04:04 [Music]
04:09 The Securities Commission Malaysia (OSC) wants to forfeit a piece of property and shares
04:14 in Bright Packaging Industry, owned by former Asia Media Group MD and CEO Ricky Wong Shikai,
04:20 who is wanted for money laundering.
04:22 He has been at large since December 2019 and left the country in 2021.
04:28 The forfeiture of Wong's property came up before Judge Dato' Azhar Abdul Hamid
04:32 in the Kuala Lumpur High Court today.
04:34 The asset, which is located near the Kuala Lumpur city centre, is said to be worth more than RM20 million.
04:41 The judge ordered the exchange of affidavits between the SC,
04:44 Wong and his holding company Havana Bayview by February 5, 2024,
04:50 after which he will fix a hearing date for the SC's forfeiture application.
04:54 It is understood that the SC has also filed forfeiture proceedings
04:58 before Judge Dato' Ahmad Shahir Muhammad Saleh for Wong's control of shares
05:03 in main market-listed Bright Packaging Industry, with the hearing also fixed for next year.
05:08 Wong and his family hold a 32.94% stake in the company.
05:12 Ibraco is expected to set up a joint venture company with its China partners,
05:23 China Railway Engineering Corporation Malaysia and Nanyang Tunnel Engineering,
05:27 after securing a project related to the Kuching Urban Transportation System
05:32 worth RM568.61 million.
05:35 Its subsidiary Ibraco Construction had joined hands with the two entities to participate
05:41 in the open tender by Sarawak Metro, the implementer of the Autonomous Rapid Transit System project.
05:47 The tender is for the construction and completion of infrastructure works
05:51 for Blue Line Package 1 from Rombos to Stutung.
05:54 According to Ibraco, the project is expected to be completed by December 31, 2025 for Stage 1,
06:01 and June 30, 2026 for Stage 1A.
06:05 On the source of funds, Ibraco said the project will be financed via
06:09 internally generated funds and external borrowings.
06:12 The job is expected to contribute positively to its earnings and assets for the duration of the project.
06:18 Ibraco last traded 1.6% higher to end the day at 62 cents
06:23 for a marked capitalisation of RM338.55 million.
06:28 [Music]
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