ykit blog

KeyWest:

It has taken a lunge into the extraction of crude oil from marginal oilfields in Indonesia.

The JV with Indonesia based PT SA petroleum started extraction of crude oil from an onshore field.

The JV has started work on four oil wells and it has the mandate to extract crude oil from another four.

At the moment, its primary income comes from the provision of wholesale telecommunications and long distance telecommunications services for individuals and corporations.

For FY2010 ended Jan 31, its revenue shrink to rm76.6 million.

However, profit before tax at rm2.5 million. It expected venture into the brownfield oil fields to make up the loss of revenue and profit from the telecommunications business.



EON Capital/HL Bank:

The courts will rule in favor of Ng Wing Fai or Rin Kei Mei’s in the sale of EON Cap’s banking assets on April 28, 2011.



Axiata:

The issue of spectrum renewal fee for Robi Axiata Ltd in Bangladesh continued to overhang.

The exact amounts for the fees have not yet been determined, though at present it could be about US$400 million.

Hence, Axiata did not rule out a cash call from Robi. Nonetheless, management hopes to see a resolution in June 2011, given that the licences expire in November 2011.


L&G:

L&G’s remaining 43 acres (17.2ha) of freehold development land is in Sri Damansara, the jewel in the crown.

L&G’s net book value (NBV) for the land is carried at less than RM20 per sq ft. comparison, freehold commercial land in Mutiara Damansara is now valued at more than RM400 psf.

L&G had no borrowings and had cash of RM141.4 million as at Dec 31, 2010, with shareholders’ funds of RM248.2 million.


Proton:

Sources say the government is said to be setting up an advisory council to look into the proposed merger of national carmakers Proton Holdings Bhd and Perusahaan Otomobil Kedua Sdn Bhd (Perodua).

The advisory council would be tasked with coming out with the exact form the consolidation could take.

While several parties had earlier indicated that the merger plans between the two companies were off, Proton and Perodua were requested by government agencies to make a presentation to the Economic Council, headed by Prime Minister Datuk Seri Najib Razak, in Putrajaya in March 2011.