The Star Online: Business

Tatt Giap down 16.1% on sale of unit
Semperit gets anti-trust clearance for Latexx takeover
KLCI opens lower, banks, Genting weigh

Posted: 11 Nov 2012 05:59 PM PST

Published: Monday November 12, 2012 MYT 9:59:00 AM

KUALA LUMPUR: Tatt Giap Group Bhd's sale of a 49% stake of its stainless steel manufacturing unit received a negative response from investors when it resumed trading on Monday.

At 9.38am, it was down seven sen or 16.1% to 36.5 sen with 123,000 shares done.

The FBM KLCI fell 1.46 points to 1,639.62. Turnover was 118.04 million shares valued at nearly 48mil. There were 97 gainers, 117 losers and 155 counters unchanged.

Last Friday, it announced the sale of a 49% stake in its stainless steel manufacturing unit, Tatt Giap Steel Centre Sdn Bhd, for RM20.03mil to three companies.

It was selling a 14% stake to CSGT International Corporation for RM5.72mil, a 20% stake to CSC Steel Holdings Bhd for RM8.17mil and 15% to Hanwa Co., Ltd. for RM6.13mil.

It would use the proceeds as working capital while it expected the entry of the three new shareholders would result in "transfer of technical know-how and technologies in relation to material management for automotive and electronics/electrical industries".

Semperit gets anti-trust clearance for Latexx takeover

Posted: 11 Nov 2012 05:41 PM PST

Published: Monday November 12, 2012 MYT 9:42:00 AM

KUALA LUMPUR: Semperit Investments Asia Pte Ltd has received the anti-trust clearance from the Austrian and German authorities for its takeover of Latexx Partners Bhd.

RHB Investment Bank Bhd, which is acting on behalf of Semperit, said on Monday that the latter had obtained the clearance from Austria's Austrian Competition Authority and Germany's Independent Competition Authority.

It said following the approvals, the Oct 8 share sale agreement between Semperit and the vendor Low Bok Tek to buy his stake in Latexx, comprising of 65.04 million shares and 35 million warrants for RM211.50mil (RM2.30 per share and RM1.77 per warrant), has become unconditional.

RHB Bank said since Semperit has received valid acceptances and held more than 50% of the voting shares of Latexx as at 5pm last Friday, all the conditions of the offer had been fulfilled and the offer has become wholly unconditional.

"In accordance with Section 25(3) of the Malaysian Code on Take-Overs and Mergers, 2012 the offer will be extended to 5pm on Friday, Nov 23, 2012," it said.

KLCI opens lower, banks, Genting weigh

Posted: 11 Nov 2012 05:22 PM PST

KUALA LUMPUR: Blue chips started the week in the red, tracking the losses in key regional markets, as no near-term solution is yet in sight for the US fiscal woes and Greece's bailout,

At 9.07am, the FBM KLCI was down 3.42 points to 1,637.66. Turnover was 48.63 million shares valued at RM11.32mil. There were 53 gainers, 46 losers and 101 counters unchanged.

Reuters reported Asian shares were capped on Monday as investor sentiment was weighed down by concerns over US fiscal woes as well as Greece's bailout, despite improving economic data from the world's two largest economies, the US and China.

At Bursa, BAT fell the most, down 78 sen to RM58 with 300 shares done. Genting Bhd lost five sen to RM9.35.

Banks fell, with Public Bank shedding 10 sen to RM15.42 but with only 200 shares done, CIMB seven sen to RM7.65 and Public Bank foreign down six sen to RM15.44. However, Hong Leong Bank rose 18 sen to RM14.88 with 100 shares done.

SapuraKencana Petroleum gainer six sen to RM2.86 while BToto added three sen to RM4.39.

JAKS Resources rose two sen to 36.5 sen in active trade after it received several contracts for the project at Ara Damansara totaling RM820mil.

Kredit: www.thestar.com.my

Ahad, 11 November 2012