Wednesday, July 22, 2009

Maxis should relist, says PM

AFTER returning from the Middle East, Prime Minister Datuk Seri Najib Razak said that Maxis Communications Bhd, which was privatised just over two years ago, should be relisted in the local stock exchange.

Apparently, PM has already conveyed the message to Maxis management.

If it really materialised, it will certainly make the local bourse, Bursa Malaysia, more attractive for investors. Also, for telecommunications junkies like us, we will be able to get access to Maxis's information such as quarterly revenue, subscriber growth and ARPU.

Below is the full article from Bloomberg:

By Manirajan Ramasamy and Angus Whitley

July 22 (Bloomberg) -- Maxis Communications Bhd., the Malaysian mobile-phone company bought out by T. Ananda Krishnan in 2007, should re-list in Kuala Lumpur to attract investors tothe exchange, Prime Minister Najib Razak said. Maxis, 25 percent-owned by Saudi Telecom Co., is assessing the proposal, Najib told reporters in Putrajaya, outside KualaLumpur, after returning from the Middle East this week.

“It has been conveyed to the management and they areconsidering it very seriously,” said Najib, when asked aboutinvestments stemming from his trip. “Hopefully, it will happenfairly soon.”

Ananda’s listed Malaysian assets, pay-television providerAstro All Asia Networks Plc and satellite operator Measat GlobalBhd., have surged since June on speculation Maxis may beinjected into one of the companies in order to return to thelocal market.

Maxis Chief Executive Officer Sandip Das wasn’t availableto comment, according to his secretary in Kuala Lumpur, and hedidn’t reply to an e-mail seeking a response to Najib’sstatement. A Maxis spokeswoman was unable to comment immediately.

According to speculation that surfaced in June, billionaireAnanda, ranked by Forbes as Malaysia’s second-richest person,may be seeking to fold Maxis into Astro or Measat to tap arising stock market and create a telecommunications company thatsells wireless, television and satellite services.

Maxis first sold shares in Malaysia in 2002. Before the company was taken private in June 2007, it was valued at about40 billion ringgit ($11 billion) on the Malaysian stock exchange.

On July 20, Astro issued a statement confirming it wasreviewing options to restructure, although Chief ExecutiveOfficer Ralph Marshall later told reporters a merger with Maxiswas not being considered.

1 Comment:

Jhone Harry said...

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