February 13, 2014 / 12:30 AM / 6 years ago

MALAYSIA-PRESS-Green Packet expected to reveal P1 buyer this month-Malaysian Reserve

Green Packet Bhd is expected to announce the successful buyer of its stake in WiMax operator Packet One Networks (M) Sdn Bhd (P1) within this month, according to sources.

It is understood that the final papers are being approved and an announcement is expected within the next few weeks by its managing director and chief executive officer Puan Chan Cheong, said a source who did not name the successful bidder.

The shortlist of prospective buyer includes DiGi.com Bhd , YTL Power International Bhd and Telekom Malaysia Bhd.

“The deal is highly competitive and secret. We would have to wait and see,” the source said.-Malaysian Reserve


MRCB said to be in talks to buy UEM Builders-The Edge Financial Daily

Malaysian Resources Corp Bhd (MRCB), which is 38.9 percent owned by the Employees Provident Fund (EPF), is exploring the possibility of acquiring UEM Builders Bhd to strengthen its construction arm, said sources.

It is understood that MRCB has held preliminary talks with UEM Builders, the engineering and construction unit of UEM Group, for a possible takeover.

It is unclear why asset-rich MRCB, which last month sold two assets for nearly 1 billion ringgit ($300.89 million) to help pare down debts of 2.9 billion ringgit, would be interested to buy UEM Builders, which was delisted from Bursa Malaysia in November 2008.

UEM Builders is wholly owned by UEM Group, which in turn is controlled by Khazanah Nasional Bhd.-The Edge Financial Daily


NOTE: Reuters has not verified this story and does not vouch for its accuracy.

($1 = 3.3235 Malaysian ringgit)

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