Malaysia Hot Stocks - Factors to watch
KUALA LUMPUR, Dec 31 (Reuters) - Here are news stories that may affect the Malaysian stock market on Monday:
RESORTS WORLD PLANS GENTING INTERNATIONAL STAKE SALE
- Malaysian casino operator Resorts World Bhd RWBW.KL announced on Friday a plan to sell its entire stake in Singapore-listed Genting International GNTG.SI to Resorts World shareholders.
Resorts, which owns about 6.2 percent stake in Genting International, could raise about 527 million ringgit ($158.9 million) from the sale assuming a full take-up of the offer, it said.
For full story, please double click on [ID:nKLR308972]
SIME DARBY TO TAKE OVER FORD MOTOR UNIT IN MALAYSIA
- Conglomerate Sime Darby (SIME.KL) will take over Ford Motor Company's (F.N) entire 49 percent stake in Ford Malaysia Sdn Bhd, the Star newspaper said on Saturday.
Sime Darby already owns the remaining 51 percent stake in Ford Malaysia, the sole distributor of Ford vehicles in Malaysia.
Ford did not say why it was quitting Malaysia but said its departure could lead to some job losses.
SUNWAY INFRASTRUCTURE PLANS ISLAMIC BOND
- Malaysian builder Sunway Infrastructure Bhd (SGWF.KL) said on Friday its toll-road operator unit, Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd, plans to issue Islamic bonds worth 752.2 million ringgit ($226.8 million) to refinance an existing loan.
MAYBANK OPEN TO STAKE SALE IN ISLAMIC UNIT
- Malaysia's top lender, Malayan Banking Bhd (MBBM.KL), will consider selling a stake in its Islamic bank, a unit whose financing and deposit businesses are forecast to grow 15 percent in its financial year ending June, its chief said on Friday.
For full story, please double click on [ID:nKLR186288]
MALAYSIA'S RANHILL, RANHILL UTILITIES MAY BE TAKEN PRIVATE - REPORT
Builder and engineer Ranhill (RANH.KL) could be taken private by its president and chief executive Hamdan Mohamad who could later relist the shares in London, Dubai or India, to get a higher valuation, Business Times reported on Monday quoting unnamed company sources.
The paper said Hamdan could also take Ranhill's water utilities unit, Ranhill Utilities RANU.KL, private.
FAISAL PRIVATE BANK TO OPEN REP OFFICE IN MALAYSIA-REPORT
- Geneva-based Islamic lender Faisal Private Bank (Switzerland) SA will open its first overseas representative office in Malaysia by the first quarter of 2008, the Malaysia Reserve reported on Monday quoting the bank's chief executive Marco Rochat.
MALAYSIA'S NOV BROAD MONEY UP 9.7 PCT ON YEAR
- Malaysia's broad money measure, M3, rose 9.7 percent in November from a year earlier, versus 11.3 percent in October, the central bank said on Friday.
Total annual loans outstanding grew 10.2 percent in November compared with 10.1 percent in October from a year ago, Bank Negara Malaysia said in a statement.
Net non-performing loans, based on a three-month classification, stood at 3.3 percent of net total loans in November, slightly below 3.4 percent in October.
For details, please double click on [ID:nKLA006517]
SHAREHOLDER SEEKS REMOVAL OF ENTIRE GOLDEN PLUS BOARD
- Golden Plus Holdings' (GPLU.KL) new shareholder, which holds an 11.8 percent stake in the property developer, will seek the removal of Golden Plus's entire board at an EGM to be convened on Jan. 26, the Star newspaper said on Saturday, quoting a statement from the company. (Reporting by Liau Y-Sing and Jalil Hamid; Editing by Ben Tan)
