NST Online Business Times : latest
NST Online Business Times : latest |
| Posted: 05 Feb 2013 06:32 PM PST Malaysia's Sunway Real Estate Investment Trust (REIT), the country's largest REIT in asset size, said on Wednesday it will issue new units to raise RM320 million to repay debt tied to a recent acquisition. Sunway REIT will issue 214.8 million new units at RM1.49 per unit for its acquisition of Sunway Medical Center, its first healthcare asset. The move comes after shares of the company were suspended for the past two days pending the announcement. Trading will resume at 1000 a.m. (0200 GMT) on Wednesday. RHB Investment Bank, Credit Suisse (Singapore) Ltd, Credit Suisse (Securities) Malaysia Sdn Bhd, The Hongkong and Shanghai Banking Corp Ltd and Maybank Investment Bank Bhd were agents for the placement. -- Reuters
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| Posted: 05 Feb 2013 06:34 PM PST CIMB Research raised its target price for UMW Holdings Bhd to RM14.45 from RM13.10 after the industrial-to-automotive company's oil and gas unit won a 140 million contract in East Malaysia. The contract will add a maximum of 3 per cent to UMW's earnings, though a weakening US dollar and yen will have a larger positive effect, CIMB said in a report on Wednesday. The brokerage maintained an 'outperform' call on UMW. UMW said in December it planned to sell up to RM2 billion in Islamic bonds to cut debt and fund working capital. Shares of UMW fell 0.16 per cent to RM12.16. The stock has gained nearly 25 per cent in the past six months, according to data from Thomson Reuters. -- Reuters |
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