JIT News - CIH,Genting Mal/NY,IPMuda,DBhd ...

CIH: CI Holdings planned to distribute at least RM568mil or RM4 per share to the shareholders. However if it couldn't find a suitable asset to acquire within six months, it would consider paying back the entire sales proceeds of RM820mil, which works out to about RM5.77 per share to shareholders. All eyes will be on the group's upcoming AGM on Oct 27 2011, where investors would seek for signals from managing director Datuk Johari Abd Ghani on the group's future direction and the payout from Permanis' sale proceeds.

 

 

Genting Mal/NY: WNY's opening would serve as a test case on the group's efforts to vie for a casino license in Miama, Florida. Should RWNY be a roaring success, legulators in both states will likely accede to Genting Malaysia efforts.

 

 

IPMuda: Abu Sahid holds a 30.6% take in IPMuda. So if he takes up the shares disposed by Teh and IGB, he would cross the threshold for making a MGO.

 

 

DBhd: Sources say it will become the primary property development arm for state owned JCOrp, which is undertaking a group wide restructuring plans. The property projects to be injected into DBhd are ongoing housing developments mostly located in Johor, especially in IDR. It would provide DBHD with an instant income stream and change its profit as one of the leading developers in Johor.