KUALA LUMPUR: Based on corporate announcements and news flow today, stocks in focus tomorrow (Oct 20) may include: Bintai Kinden, Mitrajaya, Trive Property, Hubline, PUC,…
Stocks In Focus [20-10-2017]
Could the 1987 Wall Street ‘Black Monday’ crash happen again?
NEW YORK, Oct 19 — On the 30th anniversary of the 1987 stock market crash, US stocks are at a record high and investors are concerned that steep valuations may mean a correction is overdue, despite healthy corporate earnings and economic growth….
YTL Corp founder Yeoh Tiong Lay dies at 87
PETALING JAYA: YTL Corp Bhd’s founder and executive chairman Tan Sri Yeoh Tiong Lay passed away at age 87 today. He had been the group’s chairman since Jan 24, 1985.
Founded in 1955, YTL Corp and its listed entities in Malaysia (YTL Power International Bhd, YTL Land & Development Bhd, and YTL Hospitality REIT) had a combined market capitalisation of about RM27.6 billion as at Sept 30.
YTL Corp also has a stake in Singapore-listed Starhill Global REIT, which owns prime retail assets in Singapore, Malaysia, Japan, China and Australia.
The group’s core businesses comprise utilities, construction contracting, cement production, property development and investment, hotel development and management, e-commerce initiatives and internet-based education solutions and services.
Tiong Lay was ranked the seventh richest man in Malaysia with a net worth of US$2 billion (RM8.4 billion), according to Forbes magazine. He was accorded a Lifetime Achievement Award at the Asia Pacific Entrepreneurship Awards 2009 in recognition of his outstanding entrepreneurial achievements and contribution towards the development of the nation.
Tiong Lay’s son Tan Sri Francis Yeoh Sock Ping is YTL Corp managing director.
Cagamas issues inaugural A$100m medium-term notes
PETALING JAYA: Cagamas Bhd has issued its inaugural Australian dollar medium-term notes amounting to A$100 million (RM331 million) through its wholly owned subsidiary, Cagamas Global PLC.
The Australian dollar medium-term notes, which has a maturity of one year, also mark the company’s first foreign currency floating rate note (FRN) issued under Cagamas’ US$2.5 billion conventional multi-currency medium-term note (EMTN) programme.
Meanwhile, the three-year RM1 billion Cagamas conventional medium-term notes (CMTN), which was issued under the company’s RM40 billion medium-term notes programme,
represents the company’s second dual tranche reopening concluded this year.
The dual currency issuance brings the total foreign currency denominated bonds/sukuk issued for the year to RM3.1 billion or 30%, with the remaining 70% or RM7.4 billion issued in the local currency market.
This also brings Cagamas' aggregate year-to date-issuance to RM10.5 billion, which represents the most amount issued by the company since 2013 for a single year.
The Australian dollar FRN carry an issue rating of “A3” by Moody’s and will be fully and unconditionally guaranteed by Cagamas.