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After much speculation on the reason of suspension since yesterday 2.30pm, Multi-Purpose Holdings Bhd ( MPHB ) finally unveil its answer. An memorandum of understanding (MOU) was signed with two parties (as elaborate further below) seeking to take over its associate Magnum Holdings Bhd. This would cost MPHB around RM1.65 billion to complete the exercise. MOU with CVC Capital Partners Asia Pacific group To acquire the remaining 49% stake in Magnum To acquire RM674.65 mil nominal value RCULS-C Total costing RM1.627 billion Acquisitions via 343.82 mil new MPHB shares at RM2.30 each and RM 809.20 mil cash MOU with Management of Magnum To acquire 2 mil magnum shares or 2% equity interest To acquire RM4.86 mil nominal value of RCULS-C together with all accrued interest remaining unpaid Total purchase costing RM37.20 mil Acquisitions via 16.17 mil new MPHB shares at RM2.30 each What is the rationale behind? MPHB said the proposed acquisition will enable MPHB to have 100% ownership in Magnum ...

Recently, a mid-size brokerage firm in London states the possible corporate tussle in UK gaming company - Rank . What's interesting in UK in fact is the two Malaysian tycoons, Tan Sri Quek Leng Chan and Tan Sri Lim Kok Thay . Rumour is brewing on the possible corporate tussle between the two to gain bigger control of the company. As at June 30, 2010, Quek's Guoco Group Ltd and Lim's Genting Bhd owned 29.95% and 11.59% respectively. Speculation that Guoco may raise its stake in Rank to a more significant level has been around for some time. This seems more likely now because Rank has improved its operating performance, and it fits into Quek's style of owning at least a 60% stake in each of his core listed companies. Genting is said to be monitoring the situation very closely, as Genting has just perform its multi-billion related party transaction (Genting Singapore sold its UK gaming operations to Genting Malaysia). In my view, any actions taken would be coming from ...

With the Asian economies leading in the run up to the global economic recovery, it is expected that the gaming and hospitality sector in Asia would be positioned for growth. Supported by a stead fast growing population and rising income, the gaming and hospitality sector in Asia is thus expected to flourish. On such expectation OSK-UOB offer investor a new fund that will seek to capitalize on the expected growth of this sector in the Asian region, particularly in Macau and Singapore whilst protecting* investors' capital. This is a 4-year close-ended capital protected* fund which aim to provide regular income over the medium term whilst protecting investors' capital* on the maturity date. This fund is suitable for investors who: have a low risk tolerance; seek capital protection*; share our view on the growth potential of the Asian gaming and hospitality sector during the run up to the world economic recovery; have a medium term horizon (4-year); seek regular income Offer Peri...

While everyone seems keen to take part in sports betting starting English Premier League on August, prime minister suddenly surrender to political wills for NOT allowing the license last night. The license was said to be already given to Ascot Sports Sdn Bhd “orally”, and since then, Berjaya Corp (BJCorp) had acquired 70% stake in Ascot Sports for RM 525 million. Shareholders are happy and many analysts are setting high target price for BJCorp. Due to objections from various parties on sports betting, Tan Sri Vincent Tan (BJCorp largest shareholder and Ascot Sports’ owner) surprise us for donating the entire proceeds of RM525 million to charity. Let’s examine the issue carefully… If he is so confident, why Tan Sri Vincent Tan sell its stake in Ascot Sports before officially getting the green light? Why not after , when he can fetch a higher value than RM525 million? In the first place, why Tan Sri Vincent Tan would like to share the pie with investors? It is expected that BJCorp will...