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Jan 15, 2015

Malaysian tycoon Ananda Krishnan may take stake in 1MDB IPO-sources

KUALA LUMPUR, Jan 15 (Reuters) – Malaysia’s second-richest
man, Ananda Krishnan, is in talks with state firm 1MDB
to become a cornerstone investor in a long-delayed $3
billion listing of its power assets, two people familiar with
the matter said on Thursday.

The 76-year-old billionaire is considering taking at least a
5 percent stake in 1MDB’s energy business, one of the people
said. The sources couldn’t give a value for the potential
investment as talks are continuing.

Jan 15, 2015

Exclusive: Malaysia tycoon Ananda Krishnan in talks to take key stake in 1MDB $3 billion IPO – sources

KUALA LUMPUR (Reuters) – Malaysia’s second-richest man, Ananda Krishnan, is in talks with state firm 1MDB [TERRN.UL] to become a cornerstone investor in a long-delayed, $3 billion listing of its power assets, two people familiar with the matter said on Thursday.

The reclusive billionaire, who owns holdings in many of Malaysia’s biggest listed firms, is considering taking at least a 5 percent stake in 1MDB’s energy business, one of the people said. The people didn’t disclose how much Krishnan’s stake would be worth since talks on the matter are continuing.

Jan 15, 2015

Malaysia tycoon Ananda Krishnan in talks to take key stake in 1MDB $3 bln IPO-sources

KUALA LUMPUR, Jan 15 (Reuters) – Malaysia’s second-richest
man, Ananda Krishnan, is in talks with state firm 1MDB
to become a cornerstone investor in a long-delayed,
$3 billion listing of its power assets, two people familiar with
the matter said on Thursday.

The reclusive billionaire, who owns holdings in many of
Malaysia’s biggest listed firms, is considering taking at least
a 5 percent stake in 1MDB’s energy business, one of the people
said. The people didn’t disclose how much Krishnan’s stake would
be worth since talks on the matter are continuing.

Jan 14, 2015

CIMB, smaller lenders scrap plan to form Malaysia’s biggest bank

KUALA LUMPUR, Jan 14 (Reuters) – Malaysia’s CIMB Group
Holdings and two smaller rivals have scrapped a merger
plan that would have created the country’s biggest bank by
assets, citing a failure to agree terms in a worsening economic
environment.

The three-way tie-up between CIMB, RHB Capital Bhd
and Malaysia Building Society Bhd would have formed a
banking group with assets of about $190 billion, eclipsing
Malayan Banking Bhd and making it Southeast Asia’s
fourth-biggest bank.

Jan 13, 2015

Malaysia’s $20 bln bank merger set to collapse – sources

KUALA LUMPUR, Jan 13 (Reuters) – A $20 billion merger to
create Malaysia’s biggest bank is about to collapse after CIMB
Holdings and RHB Capital failed to agree on
new deal terms, people familiar with the matter said on Tuesday.

The merger of CIMB, RHB and Malaysian Building Society Bhd
(MBSB) would have formed a banking group with assets
of about $190 billion, eclipsing Malayan Banking Bhd (Maybank)
and making it southeast Asia’s fourth-biggest bank.

Dec 28, 2014

AirAsia faces biggest crisis as jet goes missing

SINGAPORE/KUALA LUMPUR, Dec 28 (Reuters) – AirAsia was built
up from two planes in 2001 to an airline industry titan that
operates more than 180 jets in just over a decade but now faces
its biggest ever challenge.

A dream run for the airline and its flamboyant boss, Tony
Fernandes, turned sour on Sunday, as Indonesia AirAsia reported
an Airbus 320-200 with 162 people on board went missing during a
flight from the Indonesian city of Surabaya to Singapore.

Nov 13, 2014

DP World to acquire EZW for $2.6 bln in Dubai asset shuffle

DUBAI, Nov 13 (Reuters) – DP World said on Thursday
it would pay $2.6 billion to major shareholder Dubai World
for its EZW logistics infrastructure firm, easing the
burden on the state conglomerate ahead of a $4.4 billion debt
repayment next year.

The deal is the latest example of Dubai’s ‘asset shuffle’,
where profitable state-owned firms have bought assets from those
still struggling after the emirate’s debt crisis at the turn of
the decade.

Oct 28, 2014

Malaysia PM vows to bring MH17 culprits to justice

DUBAI (Reuters) – Prime Minister Najib Razak on Tuesday vowed to bring to justice the perpetrators of the downing of Malaysia Airlines MH17, but said he feared fighting in Ukraine might block access to the crash site.

In an interview with Reuters in Dubai, Razak also said he hoped to see results over the coming months in the search for missing Malaysian jetliner MH370, bringing closer a solution to the world’s greatest aviation mystery. The plane veered off course and disappeared without a trace earlier this year.

Oct 28, 2014

UAE desert booms again, but builders face cash crunch

DUBAI/ABU DHABI, Oct 27 (Reuters) – Look at computer models
for the Venice-like Arabian Canal proposed for central Dubai, or
the plans for the world’s biggest shopping mall, and it seems as
if the collapse of the United Arab Emirates real estate market
six years ago never happened.

Citibank estimated earlier this year that there were already
two thirds of a trillion dollars worth of construction projects
underway in the UAE. That was before Dubai ruler Sheikh Mohammed
bin Rashid al-Maktoum unveiled models of the Mall of the World,
a glassed-in city complete with an air-conditioned Times Square
and Oxford Street and Earth’s biggest indoor theme park.

Oct 24, 2014

Abu Dhabi state fund asks for more in $22 billion Malaysia banking deal

DUBAI/KUALA LUMPUR (Reuters) – Aabar Investments is demanding a hefty premium for its minority stake in Malaysia’s No.4 bank, sources say, as the Abu Dhabi state fund leverages on its amplified role in a $22 billion merger that will create Southeast Asia’s fourth-largest lender.

When the Malaysian stock exchange last week barred the Employees Provident Fund (EPF) from voting on a plan to merge CIMB Group Holdings (CIMB.KL: Quote, Profile, Research, Stock Buzz), RHB Capital Bhd (RHBC.KL: Quote, Profile, Research, Stock Buzz) and Malaysia Building Society Bhd (MBSB) (MBSS.KL: Quote, Profile, Research, Stock Buzz) due to the state pension fund’s majority ownership in the three lenders, the spotlight was suddenly thrown onto secondary shareholders.