In today’s edition of Evening 5 — Sime Darby sells its interest in Ramsay Sime Darby Health Care to Columbia Asia Healthcare for RM5.7 billion. Meanwhile, LTAT issues an unconditional takeover offer for the remaining shares it does not own in Boustead Plantations at RM1.55 per share.
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00:00 [Music]
00:04 Conglomerate Siam Dhabi announced it is selling its interest in Ramsey Siam Dhabi Healthcare
00:09 to Columbia Asia Healthcare for RM5.7 billion,
00:13 marking its exit from the healthcare business.
00:16 Ramsey Siam Dhabi Healthcare is a 50-50 joint venture between Siam Dhabi and Ramsey Healthcare.
00:22 In a statement, Siam Dhabi said its unit, Siam Dhabi Holdings,
00:26 together with Ramsey subsidiary A.H. Holdings Healthcare,
00:30 inked the sale and purchase agreement with Columbia Asia.
00:33 The group said the deal will enable it to unlock the value of its healthcare assets,
00:38 which have previously been deemed non-core,
00:40 with a RM2 billion gain on disposal of the stake.
00:43 Ramsey Siam Dhabi Healthcare operates four hospitals in Malaysia and three hospitals in Indonesia.
00:50 Group CEO Datuk Jeffrey Salim Davidson said,
00:53 "While the hospital business is a great asset,
00:55 the conglomerate has always maintained its focus on its core trading businesses of motors and industrial."
01:02 He said the offer from Columbia Asia was one it could not refuse.
01:06 The deal is expected to be completed in the third quarter of 2024.
01:10 Siam Dhabi last traded at RM2.34, valuing it at RM15.95 billion.
01:17 [Music]
01:22 LTAT has issued an unconditional mandatory takeover offer notice
01:27 to acquire the remaining shares it does not own in Baustad Plantations
01:31 for a cash price of RM1.55 per share.
01:34 The cash price represents a 21.09% premium over Baustad Plantations' net assets per share of RM1.28,
01:42 and is 1.3% higher than the conglomerate's closing price of RM1.53.
01:47 LTAT's notice follows the Armed Forces Fund Board's agreement with Baustad Holdings
01:52 to buy 739.2 million shares, or a 33% stake in its plantation arm,
01:59 after the RM1.15 billion takeover deal by Kuala Lumpur-Kepung fell through last month.
02:05 The acquisition takes LTAT's shareholding in Baustad Plantations to 976.41 million shares,
02:12 representing a 43.59% stake.
02:16 LTAT said the offer represents a significant step forward in its overall restructuring
02:21 and turnaround of the Baustad Group,
02:24 and in rebalancing the Pension Fund Board's investment portfolio to better position the fund
02:29 vis-à-vis the risk-return profile.
02:31 The offer also provides it greater flexibility in setting the strategic direction of Baustad Plantations
02:38 and accelerating the value creation plans that meet LTAT's objective.
02:43 [Music]
02:48 Maxis said net profit for the third quarter of FY2023 shrank 6.8% to RM287 million
02:56 due to restructuring charges related to cost optimisation initiatives.
03:01 Quarterly top line grew by 1.5% to RM2.44 billion,
03:05 driven by its service revenue growth of 1.8%,
03:08 which was underpinned by steady growth in its consumer and enterprise revenue.
03:13 The telco declared a third interim dividend of RM4 per share,
03:17 bringing the total dividend declared year-to-date to RM12.
03:21 For its FY2023 outlook, Maxis forecasts its service revenue to experience a low single-digit increase
03:28 and flat EBITDA.
03:30 It also expects its CAPEX spending to be slightly less than RM1 billion.
03:35 Maxis CEO Goh Siao Eng said the group delivered stable growth in an intensively competitive
03:41 operating environment and is seeing good take-up of its recently launched 5G and new fibre plans.
03:47 He added that the telco's priority is to focus on operational excellence
03:52 and to meet the connectivity needs of its customers.
03:55 At the close, shares in Maxis were unchanged at RM4.03,
03:59 giving the group a market capitalisation of RM31.56 billion.
04:04 [Music]
04:09 The Securities Commission Malaysia (OSC) wants to forfeit a piece of property and shares
04:14 in Bright Packaging Industry, owned by former Asia Media Group MD and CEO Ricky Wong Shikai,
04:20 who is wanted for money laundering.
04:22 He has been at large since December 2019 and left the country in 2021.
04:28 The forfeiture of Wong's property came up before Judge Dato' Azhar Abdul Hamid
04:32 in the Kuala Lumpur High Court today.
04:34 The asset, which is located near the Kuala Lumpur city centre, is said to be worth more than RM20 million.
04:41 The judge ordered the exchange of affidavits between the SC,
04:44 Wong and his holding company Havana Bayview by February 5, 2024,
04:50 after which he will fix a hearing date for the SC's forfeiture application.
04:54 It is understood that the SC has also filed forfeiture proceedings
04:58 before Judge Dato' Ahmad Shahir Muhammad Saleh for Wong's control of shares
05:03 in main market-listed Bright Packaging Industry, with the hearing also fixed for next year.
05:08 Wong and his family hold a 32.94% stake in the company.
05:12 Ibraco is expected to set up a joint venture company with its China partners,
05:23 China Railway Engineering Corporation Malaysia and Nanyang Tunnel Engineering,
05:27 after securing a project related to the Kuching Urban Transportation System
05:32 worth RM568.61 million.
05:35 Its subsidiary Ibraco Construction had joined hands with the two entities to participate
05:41 in the open tender by Sarawak Metro, the implementer of the Autonomous Rapid Transit System project.
05:47 The tender is for the construction and completion of infrastructure works
05:51 for Blue Line Package 1 from Rombos to Stutung.
05:54 According to Ibraco, the project is expected to be completed by December 31, 2025 for Stage 1,
06:01 and June 30, 2026 for Stage 1A.
06:05 On the source of funds, Ibraco said the project will be financed via
06:09 internally generated funds and external borrowings.
06:12 The job is expected to contribute positively to its earnings and assets for the duration of the project.
06:18 Ibraco last traded 1.6% higher to end the day at 62 cents
06:23 for a marked capitalisation of RM338.55 million.
06:28 [Music]