DANAVEST

(The Edge) Public Bank Bhd (PBB) said yesterday it has received the Securities Commission’s (SC) approval for its proposed issuance of non-cumulative perpetual capital securities of up to RM5 billion which are to be stapled to subordinated notes to be issued by a wholly owned subsidiary.

(The Edge) Pos Malaysia Bhd sealed a business partnership with e-commerce specialist Platform2u.com Bhd, in which PosLaju will deliver items purchased online through Platform2u. Platform2u has over 500 registered merchants. It also specialises in the research and development of e-commerce solutions for small and medium-sized entrepreneurs.

(Business Times) OSK-UOB Unit Trust Management Bhd, has launched a new fund that invests in fixed- income securities on the Singapore Stock Exchange. Dubbed the “OSK-UOB Capital Protected One Advantage Fund (The 1 Fund)”, it has a tenor of four years, is close-ended and aims to provide capital appreciation over the medium term.

(BERNAMA) The Multimedia Development Corporation (MDeC) will soon have a RM150 million animation centre — the MSC Malaysia Creative Multimedia Content Initiative Centre (MAC 3). MAC 3 will provide the professional equipment and knowledge as well mentorship to help and guide local companies or members of the public who have keen interest and passion in the animation industry, he said.

(BERNAMA) The Main Board and Second Board will be merged while the current Mesdaq market now catering only for technology firms will be transformed into an alternative market open to companies of all sizes and from all economic sectors. The merged Second and Main Board would be known as the Main Market while the Mesdaq market would be known as the ACE Market. ACE is an acronym for Access, Certainty and Efficiency. The changes would be implemented on August 3.

(Business Times) IDC, a global information technology (IT) research firm, expects spending on IT in Malaysia to fall this year, the first time in 10 years, as companies and consumers are cautious because of an economic downturn. IT spending could fall as much as 3 per cent this year.

(The Edge) Proton Holdings Bhd’s unit Proton Edar Sdn Bhd will take over all the sales and service dealers currently under Edaran Otomobil Nasional Bhd no later than Dec 31,2009. Under the new Master Dealership Agreement signed on May 8, PESB will appoint EON as a sales and service dealer on a non-exclusive basis. This will be for five years, with effect from July 1. EON shall be entitled to maintain its 32 service centres and EON shall be entitled to service or continue to service Mitsubishi marque cars until Dec 31, 2010.

(BERNAMA) The Securities Commission (SC) and Bursa Malaysia Securities Friday launched a new framework for listings and equity fund-raising in one of the most comprehensive reforms to the country’s capital market. Under the new framework, rules and processes for equity fund raising have been streamlined in order to provide greater certainty, shorter time to market and lower regulatory cost. The SC’s review of corporate proposals will now focus on compliance with minimum requirement, standards of corporate governance, resolution of conflicts of interest, preservation of public interest, and adequacy of disclosure to enable investors to make informed investment decisions.

(Business Times) MALAYSIA’S fisheries products will be back in the European Union (EU) markets when permission is given for the six local fisheries processing centres to export their products to the affected countries beginning May 15. In a statement e-mailed to Bernama today, Rohani said that effective January 1, 2010, the EU would introduce a regulation in the form of the catch-certification scheme to prevent, deter and eliminate illegal, unreported and unregulated (IUU) fishing.

(Bernama) Kuala Lumpur Kepong Bhd (KLK), via its wholly-owned subsidiary, KL-Kepong Plantation Holdings Sdn Bhd will form a joint venture company with PT Perkebunan Nusantara II (Persero) (PTPN II) to manage plantation assets in North Sumatera, Indonesia. The joint venture company, with a proposed name of PT Langkat Nusantara Kepong, will lease, operate and manage 20,700 hectares of land with oil palm and rubber, two palm oil mills and three rubber factories owned by PTPN II in Distrik Rayon Tengah.

(The Edge) The Securities Commission (SC) has approved one Chinese company for listing on the Bursa Malaysia, making it possibly the country’s first foreign listing. SC chairman Datuk Zarinah Anwar said on May 8 the regulator was also looking at a proposal by another Chinese company while it had also received several inquiries from other countries.

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