Malaysia daily update

Amcorp steps up UK venture with Temasek

Amcorp Properties has partnered with Temasek Holdings in a redevelopment project in London valued at more than £1bn (RM5.46bn). Their JV firm, Bankside Quarter (Jersey) Ltd, on Friday bought the companies that own Sampson House and Ludgate House for £308m (RM1.68bn), freehold office buildings next to the River Thames. (Source: Star Biz)

Malaysia Airlines to charge customers 6% GST

Malaysia Airlines’ customers will be charged the 6% GST on applicable goods and services supplied by the national carrier when it comes into effect on April 1. Malaysia Airlines implementation adhered to the government’s announcement during the tabling of its Budget 2014 on Oct 25, 2013. GST will be replacing the company’s existing Sales Tax and Service Tax. (Source: Star Biz)

Astro pre-tax profit rises to RM720.9m

Astro Malaysia’s pre-tax profit for FY15 rose to RM720.88m from RM569.23m in the previous year. Revenue grew to RM5.23bn from RM4.79bn a year ago, following the expansion in its customer base and increase in average revenue per user (ARPU) in sales of value-added products and services as well as cost control. The company also promised to continue delivering growth, which is derived from advertising expenditure, sales of rights content and leveraging its invested infrastructure, among others. (Source: Business Times)

Integrax: Game over

TNB has secured more than 50% acceptance for its takeover offer of port operator Integrax, effectively gaining control of the company in a corporate battle that had lasted close to 3 months. TNB announced that it had secured 50.83% in Integrax, making its offer unconditional. (Source: Star Biz)

Seacera to develop project worth RM10bn in GDV

Seacera is expected to develop a township-concept project on a 202.34 hectare site in Hulu Langat with a GDV of more than RM10bn. It was also mentioned that Seacera’s project would definitely be higher in value than other RM10bn GDV worth of projects in the area. The company has a landbank of 242.8 hectares. (Source: Star Biz)

Datasonic subsidiary awarded RM32m contract

Datasonic’s wholly-owned unit, Datasonic Technologies SB, has received a letter of award from the Home Affairs Ministry to undertake maintenance services for personalisation process at the National Registration Department worth RM32.56m. The contract was for a period of 2 years commencing May 1 until April 30, 2017. The contract is expected to contribute positively towards the future earnings and net assets per share of Datasonic for FY16 and the financial years thereafter for the duration of the contract. (Source: Business Times)

BHIC gets additional RM531m Govt contract

Boustead DCNS Naval Corp SB, a 60% owned unit of Boustead Heavy Industries Corp Bhd (BHIC), has received an additional contract with a ceiling value of RM531.2m from Malaysian government. The contract was for the in-service support (ISS) for 2 units of Prime Minister’s class submarines for the Royal Malaysian Navy. Additional contract value for the extension of the ISS contract would commence today to May 31, 2017. (Source: Business Times)