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theSun | FRIDAY JUNE 26 2009 œ 15

business NOW OPEN !

S’pore’s theme resort
Xingquan offering gets to open early next year
SINGAPORE: The S$6.95 billion (RM16.61 billion) integrated

strong response
family resort and casino on Sentosa Island here is nearing com-
pletion and will open early next year.
Airlines Resorts World at Sentosa’s executive vice-president of
struggle projects Michael Chin said all structural buildings at the 49ha
project would be completed next month.
as flu The buildings that will be readied under the first phase of
adds to the project will include Universal Studios theme park, a casino,
woes a dining strip and four hotels – Hotel Michael, Maxims Tower,
KUALA LUMPUR: Xingquan retail offering. the adviser, underwriter, place- Festive Hotel and Hard Rock Hotel.
International Sports Holdings Ltd “As the final retail price of ment agent and sole bookrunner
pg 16 Briefing the media touring the project site yesterday, Chin
has received strong response to its RM1.71 per share is lower than for this IPO exercise. said building works, which began in April 2007, were on sched-
institutional offering in connection RM2.10 per share, a refund of Earmarked to be the first direct ule, and 60% of the resort’s built-up area would be opened to
with its initial public offering and the difference will be made after listing of a foreign company on visitors during its soft opening.
listing on the main board of Bursa balloting for the retail offering is Bursa Malaysia, Xingquan is a He said the second phase of the project involved two more
Malaysia Securities Bhd. completed in accordance with the vertically integrated shoe and shoe attractions, the Marine Life Park and the maritime museum
In a statement here yesterday, prospectus,” it said. sole manufacturer and brand own- and two more hotels, Equarius and Spa Villas, which would be
Xingquan said the order book The retail offering closes at 5pm er. It has the capacity to produce opened progressively. Chin said Singapore’s largest resort, with
was multiple times covered, with on June 30. up to 5.9 million pairs of shoes per 10,000 staff when operational, was expected to attract 12 million
participation from local, Asian and CIMB Investment Bank Bhd is annum. – Bernama to 13 million visitors. – Bernama
European funds.
“The quality of the order book
was excellent with orders from
top-tier institutional funds and high
net worth individuals,” it said.
Xingquan has fixed the size of
EON Capital eyes RM500m from tier 1 programme
the institutional offering at 82.7
million shares (before any exercise KUALA LUMPUR: EON Capi- advantage of an attractive raising exercise is approved, subordinated tier capital. rants for RM29.5 million to its
of the over-allotment option or any tal Bhd hopes to raise up to capital raising opportunity. the company’s core tier one “After, we will look at other Hongkong-based shareholder,
clawback and reallocation). RM500 million from its pro- “This is a programme that capital ratio will increase to potential attractive capital Primus Pacific Partners Ltd.
The institutional price has been posed RM1.0 billion Innovative we intend to do quite soon 11.5% from 9.35% currently. raising opportunities as well,” Syed Anwar explained
fixed at RM1.80 apiece. Tier 1 Capital Programme to and we are working on this Syed Anwar said it would he said, adding that warrants that Bank Negara did not give
In accordance with the pro- boost its capital structure. already,” he said after the also enhance EON Capital’s could be one of the options. any reason for the rejection
spectus, the final retail price will The proposal was submit- company’s annual general comfortable capital position. As at March 31 this year and Primus will be making
be RM1.71 per share, which is the ted to the Securities Commis- meeting here yesterday. EON Bank Group’s inde- EON Bank’s core tier one an appeal to the central bank
lower of the retail price of RM2.10 sion for approval yesterday. “But, it doesn’t mean that pendent non-executive direc- capital ratio and risk weighted soon.
and 95% of the institutional price, Its chairman Tan Sri Syed we are going for the whole tor, Rodney Ward, meanwhile capital ratio were both at Hopefully, if the appeal
it said. Anwar Jamalullail said the RM1 billion, we will probably said that the programme was 11.5% respectively. is successful, an adjourned
“Applicants under the retail programme would help the initially go for about half a bil- a special instrument because Bank Negara Malaysia extraordinary general meeting
offering should note that the retail company optimise its capital lion subject to the economic as regulators around the world had recently rejected EON will be called, he said.
price of RM2.10 per share is pay- structure and provide maxi- conditions,” he said. were giving more significance Capital’s proposed plan to Primus owns 20.2% stake
able for applications under the mum flexibility while taking He said if the capital to core tier one rather than sell 58.7 million new war- in EON Capital. – Bernama

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