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AirAsia X eyes up to US$300m Malaysia IPO - term sheet
Foreigners bought net RM3.1b Malaysian equities
Malton sells 20-storey commercial building for RM140m

AirAsia X eyes up to US$300m Malaysia IPO - term sheet

Posted: 12 May 2013 07:23 PM PDT

Published: Monday May 13, 2013 MYT 10:24:00 AM

HONG KONG: Long-haul carrier AirAsia X, founded by entrepreneur Tan Sri Tony Fernandes, began meeting investors on Monday to gauge interest for an initial public offering in Malaysia worth up to US$300mil, according to a term sheet of the deal seen by Reuters.

The company and its shareholders are offering 790.1 million shares, with 75% of the offering coming from new shares, according to the terms. The deal is slated to be priced on June 24, with its debut set for July 10.

AirAsia X plans to use 44 percent of the proceeds to repay bank loans, with another 22 percent set for capital expenditures, the terms said.

CIMB, Credit Suisse, Maybank and Morgan Stanley were hired as joint global coordinators on the IPO. - Reuters

Foreigners bought net RM3.1b Malaysian equities

Posted: 12 May 2013 07:09 PM PDT

KUALA LUMPUR: Foreign investors gave a strong thumbs-up to the outcome of the 13th General Election, snapping up an unprecedented net RM3.1bil of Malaysian equities in the open market, says MIDF Equities Research.

The research house said the purchase of the equities for the week ended March 10 also marked a record 22 straight weeks of net foreign buying.

"Net foreign buying surged to RM1.4bil on Monday, the highest ever purchase in a single day, as the FBM KLCI leapt by 131 points on opening.

"The strong buying momentum continued on Tuesday and Wednesday, and as expected fizzled in the last two days of the week. Overall, net foreign purchase averaged a whopping RM623mil per day last week," it said.

MIDF Research said so far this year, foreign investors have bought RM17.4bil net of Malaysian equity in the open market compared with RM13.7bil in 2012," it said.

As for local investors, they took the opportunity of heavy foreign buying to offload their positions significantly.

"Local retail investors sold net RM727mil last week on heightened participation rate of RM1.5b. So far this year, local retailers have already sold net, RM5.9bil, surpassing the RM4.2bil recorded for the entire 2012," said the research house.

"Selling by local funds also hit unprecedented level last week. Net sale by local funds hit RM2.39bil, also at an unprecedented participation rate of RM3.57bil," it said.

So far in 2013, local funds have reduced their equity exposure by a massive RM11.5bil net, compared with RM9.5bil for the entire 2012, it said.

Malton sells 20-storey commercial building for RM140m

Posted: 12 May 2013 06:46 PM PDT

Published: Monday May 13, 2013 MYT 9:47:00 AM

KUALA LUMPUR: Malton Bhd is selling a 20-storey commercial building in Petaling Jaya to Bukit Damansara Development Sdn Bhd from RM140mil.

Malton said on Monday the office building, which included 964 car park bays, was Block One of V Square @ PJ City Centre along Jalan Utara.

Trading was halted until 10.01am.

Kredit: www.thestar.com.my

Ahad, 12 Mei 2013