QUOTE(staind @ Aug 13 2012, 08:06 PM)
SOLD. Gent sold off Genting Sanyen for ~RM2.3bil, lower than initially quoted by Business Times. SOP price was reported around ~RM2.17bil by Kenanga.
KUALA LUMPUR: Genting Bhd is selling its power generation business to 1Malaysia Development Bhd (1MDB) for RM2.30bil cash consideration as the group seeks to expand and develop its power generation portfolio abroad.
It said on Monday it was selling its entire 97.7% stake in Mastika Lagenda Sdn Bhd, which houses its power assets, to 1MDB.
Its 97.7% owned subsidiary Genting Sayen (Malaysia) Sdn Bhd was also selling its freehold and leasehold industrial land where the power plant is located, measuring 3.21m sq ft in Kuala Langat, Selangor for RM38.8mil
Half good half bad. Good for more pure gaming stock, bad for sold so cheap price. So how? Tomorrow neutral? Flat?

Added on August 13, 2012, 10:12 pmCoastal Group's wholly-owned units, Coastal Offshore (Labuan) Pte Ltd and Thaumas Marine Ltd have collectively secured contracts for the sale of vessels, namely a 300-Men Accommodation Work Barge, one unit of Anchor Handling Tug Supply (AHTS) and two units of low-end vessels for RM141 million.
"Following our recent order book intakes of RM446 million last month, we are glad to secure another major win within a short period of time despite the global economy’s growth threatened by the Eurozone debt crisis and its spillover effects," said the group's chairman Ng Chin Heng, in a statement today.
Except for the AHTS, which is for a repeat customer, the rest of
the vessels are being sold to new customers from Singapore.
The vessels are expected to be delivered this year and in 2013.
The sales of the vessels are expected to contribute positively to the group's performance for the financial years ending Dec 31, 2012 and Dec 31, 2013.
Todate, the shipbuilder has about RM711 million worth of vessel sales orders awaiting delivery to customers up to 2013.
"Currently, oil and gas exploration and production activities are increasingly taking place in more remote locations and harsh climates.
"We anticipate the demand for more technologically advanced and bigger size accommodation work barge to increase in future," Ng said.
The group specialises in offshore support vessels as well as marine transportation vessels.
Presently, it owns and operates a comprehensive young fleet of 29 vessels, comprising 11 tug boats, 11 deck barges and seven oil barges. -- Bernama
Read more: Coastal Group units wins RM141m jobs
http://www.btimes.com.my/Current_News/BTIM.../#ixzz23R3xNw4m
This post has been edited by yok70: Aug 13 2012, 10:12 PM