YTL Power, AEON Credit, LTKM Bhd, TM and Malakoff

KUALA LUMPUR (March 12): Based on corporate announcements and news flow today, companies that may be in focus on Friday (March 13) may include: YTL Power International Bhd, AEON Credit Service (M) Bhd, LTKM Bhd, Telekom Malaysia Bhd (TM) and Malakoff Corporation Bhd.

YTL Power International Bhd’s wholly-owned subsidiary YTL PowerSeraya Pte Ltd is acquiring Tuaspring Pte Ltd’s power plant and associated assets in Singapore for S$331.45 milion (about RM1.004 billion).

YTL Power added that the acquisition entails the purchase of the assets for S$331.45 million, of which, S$230 million will be settled in cash while the remaining S$101.452 million portion comprises ordinary shares and loan notes amounting to 7.54% of the post-acquisition equity in YTL Utilities (S) Pte Ltd. (YTLUS).

YTL Power further said the proposed acquisition represents a good opportunity to acquire an efficient operating asset with a proven operational track record.

AEON Credit Service (M) Bhdissued subordinated sukuk or Islamic bonds with a nominal value of RM200 million under the financial services provider’s RM2 billion sukuk programme.

AEON Credit said proceeds from the RM200 million subordinated sukuk will be utilised for ordinary course of business of providing consumer financing based on Shariah principles and also to refinance AEON Credit's existing loans or sukuk.

Chicken egg producerLTKM Bhdhad lodged a police report and will consult lawyers against organisations or individuals who published articles that alleged wrongful practices at its poultry farm.

Referring to a report on  a news portal last Thursday, LTKM also said it wishes to put on record for public information that its poultry farm operations fully complied with the requirements set by the Department of Veterinary Services Malaysia for the livestock sector.

Telekom Malaysia Bhd(TM) has partnered VMware Malaysia Sdn Bhd to kick off the tGRID project, an initiative to transform the existing cloud platform to TM ONE Cloud Solutions, which cater to an end-to-end cloud platform.

The cloud platform, which runs on VMware’s technology, aims to simplify the complexity of cloud adoption while offering built-in service level agreements that are tailored to customers’ needs.

Under the tGRID project, TM has implemented advanced security practices and technologies for its certified data centres to ensure the highest level of data security.

Malakoff Corporation Bhd’s subsidiary Tanjung Bin Energy Sdn Bhd (TBE) has commenced arbitration against the contractor, saying there were multiple breaches of contractual duties.

TBE seeks a declaration by the contractor that TBE is entitled to the RM36.34 million payment. It wants the contractor to pay the company RM7.9 million, after deducting the remaining milestone claims of RM28.44 million from TBE.

TBE also demanded the contractor to deliver a warranty bond worth RM12.11 million, either in warranty bond form or cash payment.