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Nikkei Markets

MALAYSIA PRESS: News Headlines On Monday, September 25

By Alexander Winifred
Nikkei Markets
KUALA LUMPUR (Sep 25) -- Here's a roundup of local news:

*Southeast Asian online services firm Sea Ltd lines up US$1b New York IPO

Southeast Asia's Sea Ltd, which provides e-commerce and digital payments services, is eyeing a US$1 billion (RM4.2 billion) offering of new shares in aggregate in a proposed initial public offering on the New York Stock Exchange, according to a document it has filed with the US Securities and Exchange Commission. The Singapore-based company said in a statement on Saturday the number of shares on offer and the price range have not yet been determined. - Reuters

*Boardroom shake-up at Astro Overseas Ltd

Months after the losses of Astro Overseas Ltd's investments in India came on the markets radar, it is now seeing changes in the boardroom, with further deterioration in its financials. A recent check with the Companies Commission of Malaysia showed that a whopping rise in net loss to RM909.81 million for the financial year ended Jan 31, 2016 in AOL's latest financial filing, compared with RM100.55 million a year ago. Revenue stood at RM2.24 million. - The Sun Daily

*CIMB-Principal Launches CIMB Islamic Global Equity Fund

CIMB-Principal Asset Management has launched its CIMB Islamic Global Equity Fund, the latest addition to its suite of 20 Islamic funds. CIMB said the fund offered Malaysian retail and corporate investors an opportunity to tap into the growth prospects of global equities which are Shariah-compliant. - Bernama

*Malaysians show greater credit appetite

Malaysians are showing signs of a greater credit appetite, and the resurgent loan demand is sustainable as purchases of big-ticket items such as cars are also rising after a bad 2016. Monthly household loan growth has stagnated at a level just above 5% year-on-year between January and July, after gradually decelerating from an average of 12.4% year-on-year in 2013. - The Financial Times

*UEM Edgenta said to submit proposal for PLUS Highways maintenance job

UEM Edgenta has submitted a proposal to maintain all eight highways operated by PLUS Highways, according to a source. UEM Edgenta quoted a figure of more than 20 billion ringgit in its proposal. - The Star

*Fraser & Neave Holdings said to review Triliight Residences project

Fraser & Neave Holdings is said to be reviewing the Triliight Residences project, the first phase of its Fraser Square development. The company recently removed Trillion Residences' signboard on the Fraser Square showroom in Petaling Jaya. - Focus Malaysia

*VS Industry's Hong Kong unit set to secure two new contracts

VS Industry's Hong Kong-listed subsidiary, VS International Group Ltd., is at an advanced stage of negotiation for two new contracts, said sources. One of these contracts will be awarded by Perfect (China) Co. Ltd. and could be worth between HK$300 million and HK$400 million. - The Edge
- By Alexander Winifred; Alexander.Winifred@nikkeinewsrise.com; +60320267363
- Edited by Glen Nicol Perkinson
- Send Feedback to feedback@NikkeiNewsRise.com
- Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.

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