Malaysia Daily Media Highlights

IOICORP: RM2bn exchangeable bonds plan
IOI Corporation Bhd has proposed that its unit IOI Investment (L) Bhd (IOIL) issue up to US$500 million (RM1.84 billion) exchangeable bonds. The US$500 million nominal value five-year unsecured guaranteed second exchangeable bonds would be exchangeable into new 50 sen shares in IOI Corp at an exchange price to be determined.

SCOMI: KMCOB Proposes RM630m murabahah notes
Scomi Group Bhd 92.5%-owned KMCOB Capital Bhd has proposed to issue RM630 million of Islamic debt notes for future operational requirements and to realign its borrowings. The RM630 million nominal value murabahah notes issuance has received the Securities Commission's approval, subject to several conditions.

Melewar: To bid for more Thai power plant licences
Melewar Industrial Group Bhd (MIG) will use its first power plant in Thailand as a stepping stone to bid for more licences as the country gives out new permits next year. The group sees a great opportunity to expand as an independent power producer (IPP) when Thailand opens bidding additional generating capacity early next year. (BT)

Pantai: Khazanah offer for Pantai now unconditional
Khazanah Nasional Bhd’s takeover bid for Pantai Holdings Bhd has become unconditional after its stake increased beyond 33% yesterday. As at October 4, the company, Pantai said in its filling to Bursa Malaysia. With that, Khazanah will also sell 49% of Pantai Irama to Parkway Holdings Ltd, Singapore’s largest private hospital operator. Under the unconditional takeover offer, Pantai Irama will buy the remaining shares at RM2.65 apiece, the remaining warrants at RM1.53 each and the remaining loan stocks at RM2.53.

Malaysia to discuss timber deal with EU
Malaysia and the European Union (EU) will hold talks next month to formalise the certification of its multi-billion Ringgit timber exports to Europe. This will be the first time the EU is hammering out a formal agreement with any country based on a strict criteria of “sustainability, legality and traceability” involving the timber trade. Plantation Industries and Commodities Minister Datuk Peter Chin said a high-powered EU delegation led by the Netherlands would visit Kuala Lumpur next month to start negotiations on the relevant issues.