Bursa highlights for Fri, April 1

AirAsia Bhd will raise RM1.006bil in gross proceeds by placing out 559 million new shares (at RM1.80 per share), or 16.7% of its enlarged share capital, to Tune Live Sdn Bhd, an investment holding company owned by Tan Sri Tony Fernandes and Datuk Kamarudin Meranun. Read more

Genting Malaysia Bhd is about to clinch a deal to manage First Light Resort & Casino, an Indian-destination resort casino in Massachusetts, United States, to be built by the Mashpee Wampanoag tribe. It has invested close to RM1 billion for the project's initial phase. Read more

Scomi Engineering Bhd's subsidiary has withdrawn its legal suit and injunction against Prasarana Malaysia Bhd that warned of possibly terminating a RM494mil KL Monorail expansion contract awarded to it. Read more

Independent oil and gas operator Sumatec Resources Bhd, in which Tan Sri Halim Saad is a substantial shareholder, has clinched a US$125mil (RM485.4mil) overseas project financing facility from Export-Import Bank of Malaysia Bhd to finance its working capital, capital expenditure for the Rakushechnoye oil and gas field in Kazakhstan, and acquisition of oil and gas assets. The facility, when fully drawn, is expected to increase the group's gearing from 0.04 times (FYE December 2014) to 0.86 times.

Texchem Resources Bhd, which already has a seafood processing factory in Myanmar, plans to explore further the market through a joint venture with Yangon-based frozen and dried seafood Mascot Industries Co Ltd and Brunei-based investment firm E-Sprint Co Ltd. Read more

Bursa Malaysia Securities has publicly reprimanded Scan Associates Bhd and its five directors, who were also fined a total of RM350,000, for failing to make timely public disclosures regarding its triggering Guidance Note 3 (GN3) criteria last year. Read more

AT Systemization Bhd (ATS), which produces industrial parts and automation systems in Bayan Lepas, has proposed a par value reduction (cancelling 7 sen from every 10 sen share) as well as a renounceable rights issue on the basis of two rights shares with a free detachable warrant for every two ATS share held. The par value reduction will give rise to a total credit of RM30.3mil to RM53.2mil, which will be used to offset the accumulated losses. The rights issue, based on the price of 4 sen per rights share, would raise gross proceeds of up to RM30.39mil, to be used to build a solar photovoltaic plant, buy machinery and repay bank borrowings.

A notable appointment today... Datuk Eddy Leong, who helmed Malaysia Airlines' unit FlyFirefly from 2007 to 2011 and most recently acted as advisor to Philippines AirAsia, has been appointed as CEO of AirAsia-owned Think Big Digital Sdn Bhd, which operates the AirAsia BIG Loyalty Programme.

Source: .The Star

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