Malaysian corporations bidding for UK Stansted Airport

Malaysia may be a small nation but Malaysian corporations have acquired huge assets in other countries. Following last year's acquisition by the SP Setia-Sime Darby-Employees Provident Fund consortium of the Battersea Power Station project, yet another bid has been made to acquire another iconic UK asset, the Stansted Airport, the third busiest in London and fourth busiest in Britain.

YTL Corp Bhd and Malaysia Airports Holdings Bhd (MAHB) are putting together a firm bid for London's Stansted Airport in an 80:20 equity structure, sources told StarBiz, confirming earlier reports.

The low-cost carrier terminal is being offered for sale by UK airports operator Heathrow Airport Holdings Ltd, formerly BAA, to satisfy competition concerns after a four-year battle with regulators. The reported figure is £1bil (RM5bil).

More: The Star.. YTL, MAHB in combined offer for RM5b UK airport

Bill tabled to make it compulsory for franchisors to register business

If you are a franchisor in Malaysia, this one is for you.

From The Star:

KUALA LUMPUR: An amendment to the Franchise Act 1998 was tabled to make it a requirement for franchisors to register their businesses before they can operate.

This move was proposed in the Franchise (Amendment) Bill 2012, tabled for the first reading by Deputy Domestic Trade, Cooperatives and Consumerism Minister Rohani Abdul Karim (BN - Batang Lupar) at the Dewan Rakyat on Tuesday.

Currently, the Act does not state that franchisors must register their business with the Registrar of Franchises before they can start operations.

It only states that franchisors must register their franchise with the Registrar before he can make an offer to sell the franchise to any person.

Continue reading..Bill tabled to make it compulsory for franchisors to register business

30% Bumiputra Equity No Longer Required

The Star reported today that Prime Minister, Datuk Seri Najib Tun Razak, said 30% bumiputra equity required for local companies seeking public listing is repealed, Tuesday. However, these companies need to offer 50% of the public shareholding spread to bumiputra investors.

Other details as follows:

The other announcements, which are to take effect immediately, were:

* All property transactions, except for those involving a dilution of government or bumiputra interests for property valued at RM20mil and above, would no longer require FIC approval;

* All Malaysian companies seeking listing would have to offer 50% of their public offering to bumiputra investors, which would work out to 12.5% of the total stake;

* A 100% ownership would be allowed for qualified and leading fund management companies to set up operations in Malaysia;

* Foreign equity in existing stockbroking companies would be increased to 70% from 49%;

* All transactions on mergers and takeovers by local or foreign companies will no longer need FIC approval; and

* All listed companies need not maintain 30% bumiputra equity as required previously.





Source: The Star