Bangkok Bank to expand in Malaysia

Bangkok Bank Bhd aims to strengthen its presence in Malaysia by opening another four branches in the country by 2016, says chief executive officer Robert Loke.

He said the new branches will cost about RM1 million to RM2 million each, depending on location and size. "We currently have four branches outside Kuala Lumpur, including two in Johor, one in Penang and the latest one in Klang, Selangor.

"We do not have a branch in East Malaysia, therefore we are also looking at that possibility," he told reporters after the signing ceremony between Bangkok Bank and Wangsa Tegap Sdn Bhd, a unit of Berjaya Corporation Bhd.

The signing was witnessed by Minister of Federal Territories and Urban Well-being, Datuk Raja Nong Chik Raja Zainal Abidin.

The agreement is for the purchase by Bangkok Bank of eight levels of corporate suites together with the commercial space on the ground and mezzanine floors of one of the towers in Berjaya Central Park.

Asked on Bangkok Bank's newest investment, Loke said the bank was eagerly waiting for the right moment to invest in a new headquarters, adding the infrastructure and planning of the buildings in Berjaya Central Park was just fine.

Asked whether the bank will sell its present headquarters in Masjid Jamek, Kuala Lumpur, Loke said: "We are exploring all possibilities and everything is very much still up in the air."

He said the bank is looking to move into its new headquarters by the first quarter of 2014.

Bangkok Bank is a wholly-owned subsidiary of Bangkok Bank Public Company Limited, the largest commercial bank in Thailand. -- Bernama



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Bangkok Bank in pact with Berjaya unit

Wangsa Tegap Sdn Bhd, a wholly-ownedsubsidiary of Berjaya Corporation Bhd, today signed a purchase agreement with Bangkok Bank Bhd for the bank to establish its headquarters here.

The agreement was for the purchase of eight levels of corporate suites,together with the commercial space at the ground and mezzanine floors of one of the towers named Menara Bangkok Bank @Berjaya Central Park.

"The eight levels of corporate suites, which occupy a total of 99,950 square feet, will form the bank's new headquarters, while the ground and mezzanine floors will house its banking halls," said Berjaya Corp chief executive officer Datuk Robin Tan Yeong Ching at the signing ceremony.

Berjaya Central Park is a mixed development project in the heart of Kuala Lumpur's Golden Triangle.

The signing ceremony was witnessed by Federal Territories and Urban Well-being Minister Datuk Raja Nong Chik Raja Zainal Abidin and Thailand's Ambassador to Malaysia Thana Duangratana.

"We are honoured by Bangkok Bank's decision to choose Berjaya Central Parkas its new corporate headquarters in Malaysia. "We warmly welcome Bangkok Bank as Berjaya Central Park's anchor owner and we are proud to have the name Menara Bangkok Bank for the building's 46-storey office tower," Tan said.

At the same event, Wangsa Tegap also signed an agreement with Vinci-MHPT Consortium for the award of the building contract to build Menara Bangkok Bank@Berjaya Central Park. The contract will cover construction of the podium block, corporate suite tower and the structure for the residence tower, and will extend over a 27-month construction period. -- Bernama



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Berjaya Central Park to house Bangkok Bank's new headquarters

KUALA LUMPUR (Dec 5): Bangkok Bank has inked an agreement with BERJAYA CORPORATION BHD [] to house its headquarters at Menara Bangkok Bank @ Berjaya Central Park.

In a statement Monday, Berjaya Corp said its wholly owned susidiary, Wangsa Tegap Sdn Bhd had signed an agreement with Bangkok Bank Bhd for the purchase of eight levels of corporate suites and commercial space on the ground and mezzanine floors of the tower.

The 99,950 sqf of corporate suites will house the group's new headquarters while the 6,000 sqf of commercial space will accomodate the group's banking halls.

Berjaya Corp said Wangsa Tegap had also signed an agreement awarding Vinci-MHPT Consortium the contract for the CONSTRUCTION [] of Menara Bangkok Bank @ Berjaya Central Park.

The construction of the podium block, a corporate suite tower and a residence tower would be over a period of 27 months, it said.

Vinci is the biggest construction firm in Europe with experience and expertise in building and civil engineering works, while MPHT MHPT, an associate of Hitachi Plant Technologies Limited, Japan, is known for its expertise in elevator, air-conditioning, plumbing, fire protection systems and services.



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KL shares mixed at mid-afternoon

Share prices on Bursa Malaysia continued to trade with a mixed bias at mid-afternoon today, with the FTSE Bursa Malaysia KLCI (FBM KLCI) 0.33 points better at 1,489.35 as at 3.00pm.

The local bourse remained cautious awaiting directions from the external market, dealers said.

The Finance Index fell 28.2 points to 13,264.7, the Plantation Index increased 40.78 points to 7,867.55 and the Industrial Index eased 1.22 points to 2,693.7.

The FBM Emas Index increased 7.51 points to 10,177.12, the FBM Ace Index rose 40.51 points to 4,199.49 and the FBM Mid 70 Index gained 35.149 points to 11,058.59.

Gainers led losers 326 to 317 while 285 counters were unchanged. Trade volume stood at 1.554 billion shares valued at RM766.353 million.

For the actives, Proton-CG perked 20 sen to 37 sen, Proton-CH advanced 20.5 sen to 37.5 sen and Compugates eased half-a-sen to eight sen.

Among heavyweights, Maybank and CIMB erased two sen each to RM8.28 and RM7.18 respectively, Sime Darby dropped 13 sen to RM8.99 while Petronas Chemicals rose two sen to RM6.19. -- Bernama



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KLCI slips at mid-day as Asian markets tread cautiously

KUALA LUMPUR (Dec 5): The FBM KLCI slipped at the mid-day break on Monday, in line with the cautious sentiment at most key regional markets that are awaiting for the outcome of a crucial European leaders’ summit later in the week.

The FBM KLCI slipped 0.16 point to 1,488.86 at the mid-day break, weighed by losses at select blue chips.

Gainers led losers by 298 to 290, while 287 counters traded unchanged. Volume was 1.3 billion shares valued at RM634.95 million.

The ringgit weakened 0.40% to 3.1391 versus the US dollar; crude palm oil futures for the third month delivery rose RM41 per tonne to RM3,101, crude oil rose 51 cents to US$101.47 per barrel while gold edged up two cents an ounce to US$1,746.77.

Asian markets were mixed after the HSBC Purchasing Managers' Index for China's services sector fell to 52.5 from 54.1 in November, its slowest rate of growth in three months.

At the regional markers, Japan’s Nikkei 225 and Hong Kong’s Hang Seng Index each rose 39% to 8,677.61 and 19,114.78 respectively, and South Korea’s Kospi edged up 0.02% to 1,916.46.

Meanwhile, the Shanghai Composite Index fell 0.63% to 2,345.78, Taiwan’s Taiex lost 0.39% to 7,112.67 and Singapore’s Straits Times Index shed 0.33% to 2,764.25.

Among the decliners on Bursa Malaysia this morning, IJM Corp fell 17 sen to RM5.61, Sime Darby 13 sen to RM8.99, Asas 12 sen to 98 sen, Parkson 11 sen to RM5.73, Petronas Dagangan 10 sen to RM17.20, AIC nine sen to RM1.11 while HELP and OCB lost eight sen each to RM1.70 and 47 sen.

Proton was the top gainer and surged 98 sen to RM4.59 with 14.45 million shares done.

The national carmakers shares were actively traded on Monday after the Edge weekly reported that state investment arm Khazanah Nasional Bhd was likely to ask for proposals from interested parties for its stake in the carmaker.

Citing industry sources, the Edge said Khazanah had made overtures and put out feelers to the market, seeking proposals from existing car players on a business plan with regard to Proton.

Khazanah is the largest shareholder in the national car company with a 42.74% stake.

Other gainers included BAT that rose 72 sen to RM47.82, Nestle 60 sen to RM53.20, United PLANTATION []s and Toyo Ink 30 sen each to RM18.40 and RM1.90, Tradewinds Plantations 26 sen to RM4.43 while KLK added 20 sen to RM22.

The actively traded counters this morning included Proton’s securities, Compugates, DPS Resources and Sanichi.



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KL shares mixed at midday

Share prices on Bursa Malaysia ended the morning session mixed today, dealers said.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was in the red and below 1,500, while most key regional markets extended gains, the dealers added.

At 12.30pm, the key index stood at 1,488.92, down 0.1 point, led by losses in IJM Corporation which dropped 17 sen to RM5.61 with Sime Darby easing 13 sen to RM8.99.

A dealer said the global investor sentiment remained cautious as external factors continued to dictate the local market's direction.

"The morning session saw uncertain trading," he said, adding, the global market expects a breakthrough ahead of the European summit this week.

Market breadth was mixed with 298 gainers against 290 losers with 287 other counters unchanged.Trading volume stood at 1.301 billion shares valued at RM634.949 million.

The Industrial Index rose 1.69 points to 2,696.61 and the Plantation Index advanced 39.57 points to 7,866.34, while the Finance Index fell 21.08 points to 13,271.82. The FBM Emas Index increased 4.34 points to 10,173.95 and the FBM Mid 70 Index added 27.069 points to 11,050.51 while the FBM Ace Index rose 35.87 points to 4,194.85.

Volume leaders, Proton-CG gained 22 sen to 39 sen, Proton-CH perked 23 sen to 38 sen, Compugates dropped 0.5 sen to 8 sen while DPS Resources inched up 1.5 sen to 20.5 sen.

Among heavyweights, Maybank eased 2 sen to RM8.28, CIMB fell 13 sen to RM7.19 while Petronas Chemicals improved 2 sen to RM6.19. -- Bernama



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Proton management keen on buyout: MD

The management of Proton Holdings Bhd is interested in buying out Malaysia’s state-controlled carmaker, Managing Director Syed Zainal Abidin Syed Mohamed Tahir said in a telephone interview today.

“If the opportunity arises for a management buyout, we would be keen,” he said. “However, there is no submission.” Other companies are also interested and it’s up to Proton’s shareholders to decide, Syed Zainal said. -- Bloomberg



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Proton jumps most in more than 13 years

Proton Holdings Bhd, Malaysia’s state-controlled carmaker, surged the most in more than 13 years in Kuala Lumpur on reports the government investment fund, the company’s biggest shareholder, may sell its stake.

The stock gained 25 percent to RM4.50 at 11:58 a.m. local time, set for its steepest gain since Sept. 7, 1998. The benchmark FTSE Bursa Malaysia KLCI Index rose 0.1 percent.

State investment fund Khazanah Nasional Bhd. may “soon” ask for bids for its 43 percent stake in the carmaker, the Edge newspaper reported at the weekend, quoting people it didn’t identify. Khazanah has approached Sime Darby Motors, Sime Darby Bhd’s motoring division, Naza Group, Hyundai-Berjaya Sdn Bhd, DRB- Hicom Bhd and UMW Holdings Bhd, with DRB said to have shown interest, the report said. Proton management wants to buy a block of shares from Khazanah, according to the report.

“We don’t comment on speculation,” Mohd Asuki Abas, a spokesman for Khazanah, said in a telephone interview today. Proton Managing Director Syed Zainal Abidin Syed Mohamed Tahir couldn’t immediately reply to an e-mail seeking comment as he was in a meeting, according to a media manager, who can’t be named because of company policy.

Proton’s second-quarter profit tumbled 76 percent from a year earlier to RM15.6 million (US$4.97 million) on higher costs incurred at sports-car arm Lotus Group International Ltd. The company’s shares have dropped 0.2 percent this year.

OSK Holdings Bhd and RHB Capital Bhd upgraded their ratings on the stock to “trading buy” after the Edge report. The stock’s so-called fair value was raised to RM5, from RM2 at OSK and from RM2.90 at RHB. -- Bloomberg



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