Jan. 18 (Bloomberg) -- Tambun Indah Land Bhd., a property developer based in Malaysia’s northern Penang state, will debut on the Kuala Lumpur stock exchange at 9 a.m. The company sold shares at 70 sen each.
WHAT TO WATCH: * International Trade & Industry Minister Mustapa Mohamed briefs media on investments in the manufacturing and services sectors in 2010 at 10 a.m. in Kuala Lumpur. * Celcom Axiata Bhd. and DiGi Telecommunications Sdn. hold joint media conference in Kuala Lumpur at 2 p.m. * Khazanah Nasional Bhd., Malaysia’s state investment fund, will present its annual review in Kuala Lumpur from 5 p.m.
MARKETS: * Malaysia’s FTSE Bursa Malaysia KLCI Index rose 0.3 percent. * The MSCI Asia Pacific Index dropped 0.3 percent. * Palm oil March-delivery futures advanced 0.5 percent to 3,699 ringgit ($1,209) a metric ton.
EQUITY PREVIEW: * APP Industries Bhd. (APPI MK): The ceramic products maker and property investor aborted a proposed private placement after receiving a takeover offer from PFC Engineering Sdn., according to an exchange filing. * IOI Corp. (IOI MK): The palm oil producer said in a statement $440.8 million out of $444.9 million of bonds had been redeemed. * Petrol One Resources Bhd. (PORB MK): The Malaysian oil and gas company, formerly known as Changhuat Corp., said in a statement it plans to raise 6.4 million ringgit through a share placement for working capital. * QL Resources Bhd. (QLG MK): The fishmeal producer and oil palm planter priced its private placement at 5.60 ringgit per share. This is a 5.5 percent discount to QL’s recent share price, the company said in a statement. There was more demand from placements shares than supply and “healthy” foreign institutional interest, it said. * Southern Steel Bhd. (SSB MK): The steel producer said its substantial shareholders may place out stock to help meet a minimum public shareholding spread requirement of 20 percent. Currently 19.4 percent of its stock is held by minority shareholders, the company said in an exchange filing. * Hing Yiap Group Bhd. (HYGB MK) received an unconditional takeover offer from Everest Hectare Sdn for 1.50 ringgit per share, according to a statement to the Malaysian stock exchange. The offer was triggered after Everest Hectare’s stake in Hing Yiap reached 50.02 percent.
To contact the editor responsible for this story: Barry Porter in Kuala Lumpur at firstname.lastname@example.org