Felcra targets RM25 million sales in tuna, sardine products

KUALA LUMPUR: FELCRA Bhd subsidiary, Felcra Livestock & Agri Products Sdn Bhd (FLAP) is aiming for RM25 million sales per annum in tuna and sardine products in the international and domestic markets.

Felcra chief executive officer Zulkarnain Md Eusope said the company also set a target of selling three containers of Yuya products per month in the first and second quarter of 2017.

“We have found potential clients and are negotiating for reasonable prices for Yuya,” he told reporters at the launch of Yuya brand, here, yesterday. — Bernama

OCBC Malaysia fully redeems RM200 million Islamic subordinated bonds

KUALA LUMPUR: RAM Ratings has received confirmation that OCBC Bank (Malaysia) Berhad (OCBC Malaysia) had fully redeemed its RM200 million Redeemable Islamic Subordinated Bonds (2006/2021) on November 24, 2016.

“As such, we no longer have any rating obligation in respect of the facility, which previously carried a rating of AA1/Stable,” it said yesterday.

RAM maintains rating surveillance on OCBC Malaysia’s AAA/Stable/P1 financial institution ratings while the Bank’s RM600 million Redeemable Subordinated Bonds (2012/2022) and RM400 million Innovative Tier-1 Capital Securities (2009/2039) continue to be rated AA1/Stable and AA2/Stable, respectively.

YTL REIT fixes issue price of new replacement units at RM1.06 each

KUALA LUMPUR: YTL Hospitality Real Estate Investment Trust (YTL REIT) has fixed the issue price for its 380 million new placement units at RM1.06 per unit as part its placement exercise to raise gross proceeds of up to RM800 million.

In a filing to Bursa Malaysia yesterday, YTL REIT said out of the total, 190 million new units would be issued to YTL Corporation Bhd (YTL Corp) while the rest to placees identified through its placement agents, namely AmInvestment Bank, Credit Suisse (Singapore) Ltd and Maybank Investment Bank Bhd.

It said the 380 million new placement units would raise total gross proceeds of RM402.8 million.

According to its earlier announcement on June 14, 2013, the exercise for the REIT, which was then known as Starhill REIT, aimed to partially repay its borrowings and reduce its gearing level. — Bernama