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Another Real Estate Investment Trust (REIT) will be listed on the Main Market of Bursa Malaysia on 7th DEC 2011. Pavilion REIT, which is expected to raise RM695.2 million from its initial public offering (IPO), has secured six cornerstone investors to take up 265 million units at an offer price of RM0.90 sen per unit or the institutional price, whichever is lower. The cornerstone investors are Permodalan Nasional Bhd, Employees Provident Fund Board, Kumpulan Wang Persaraan (Diperbadankan), Great Eastern Life Assurance (Malaysia) Bhd, American International Assurance Bhd and HwangDBS Investment Management Bhd.

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Looking for ways to expand your wealth with your hard earned money? You may now enjoy one of the highest Step Up Fixed Deposit rates in the market. Standard Chartered Bank Malaysia is now offering Step Up Fixed Deposit rates up to 10.28% per annum for 6 months by investing in selected Wealth Management products. This promotion will run from 1st JUN 2011 to 30th JUN 2011 and is open to all existing and new customers of Standard Chartered Bank Malaysia, with terms and conditions apply.

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The local business magazine, Malaysian Business has recently compiled a list of “Highest Paid Directors” survey for the year of 2009. Among the list, Genting Berhad topped the list with a payout of RM92.11 million. Besides, Genting Bhd also had the highest remuneration band of RM87.6 million to RM87.65 million for a single director. However, the company did not name the director. The top executive listed is its executive chairman and chief executive officer, Tan Sri Lim Kok Thay.

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Forbes had compiled a latest Global 2000 list last week. The Forbes Global 2000 are the biggest, most powerful listed companies in the world. It’s a comprehensive report analyzes the world’s biggest companies and the best performing of these titans over the past year. This year’s ranking of world leading companies span 62 countries, with the US (515 members) and Japan (210 members) still dominating the list, but with a combined 33 fewer entries. Total 18 companies from Malaysia are ranked in this year’s Forbes Global 2000 list, which including:

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US banking giant Citigroup Inc becomes the seventh foreign company to grant a stockbroking licence from The Securities Commission Malaysia (SC). However, it will be focusing its business model on foreign and domestic institutional business. Any variations to the business model are subject to the SC’s approval.

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Public Bank Bhd and Bursa Malaysia Bhd won the Overall Excellence Award of the Malaysian Corporate Governance Index 2009 (MCG Index) for their achievements in practising the highest level of corporate governance standard. The new MCG Index serve as a premier index for investors to gauge corporate governance levels of public-listed companies in Malaysia.

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Do you still remember the Real Property Gains Tax (RPGT) on all properties sold being announced during the 2010 Budget? Now, there is an alteration on it. The five percent RPGT will now only be applicable to properties that are sold within five years of their purchase, commence on 1st JAN 2010.

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Commence from 3rd JAN 2010, the self-employed, a significant category of individuals who have no formal retirement savings scheme, such as farmers, fishermen, taxi drivers, petty traders, freelancers, singers, actors or business owners, can contribute to the EPF 1Malaysia Retirement Savings Scheme. This is announced by the Prime Minister during the tabling of the 2010 Budget in OCT 2009 for helping the self-employed cope with income inadequacy during retirement.

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Nestle (Malaysia) Bhd will replace Parkson Holdings Bhd to become the constituent in FTSE Bursa Malaysia KLCI (FBM KLCI) following the Kuala Lumpur stock exchange’s semi-annual review. The reviews ensure that the indices accurately reflect the markets they represent. FTSE group and Bursa Malaysia Bhd said that would take effect from tomorrow, 21st DEC 2009, and the next review would take place in JUN 2010.

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According to a valuation study conducted by Interbrand, Public Bank emerge as Malaysia’s most valuable brand for year 2009, with a value of RM6.593 billion. Public Bank overtook last year champion Maybank, which fell to second spot this year with value of RM5.374 billion, to grab top spot in the third anuual ranking of Malaysia’s Most Valuable Brands (MMVB), a league table that values the Top-30 consumer-facing Malaysian brands. In third place is CIMB, valued at RM5.245 billion.

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