<article>Corporates raising money for working capital and changes in shareholding of substantial shareholders in  EPF and Notion VTec were the flavour of business developments in Malaysia.</article>

Corporates raising money for working capital and changes in shareholding of substantial shareholders in  EPF and Notion VTec were the flavour of business developments in Malaysia.
<h3 style="text-align: left;">KNM’s private placement of $25m</h3>
<a href="http://www.knm-group.com/" target="_blank">KNM Group Bhd</a> has proposed a private placement to raise up to MYR106.64 million ($25.09 million), which will be used to repay borrowings and for working capital.
The group will utilise MYR51 million (47.82%) for repayment of borrowings, MYR52.66 million (49.38%) for working capital,  and the remainder for expenses related  to the proposed placement.
“The group requires additional working capital to fund the newly secured projects and potential additional contracts to be secured in  relation to the Pengerang Integrated Petroleum Complex project in Johor,” it said.
In a filing with Bursa Malaysia, KNM said the placement entails an issuance of up to 193.89 million shares, representing approximately 10  per cent of the issued share capital of the group.
It said the issue price of the placement shares will be determined and announced at a later date after receiving the relevant approvals, and after taking into consideration the prevailing market conditions.
<h3 style="text-align: left;">EPF substantial shareholder in TIME dotCOM again</h3>
The <a href="http://www.dealstreetasia.com/?s=EPF" target="_blank">Employees Provident Fund</a> (EPF) has re-emerged as the substantial  shareholder in TIME dotCom Bhd, with total shareholdings of 30.21 million shares or a 5.249 per cent stake.
The telecom group said in a stock exchange filing that EPF acquired the 30.21  million shares on October 16 in the open market. The transaction price for the shares was not disclosed.
The fund had  previously been gradually reducing its stake in TIME dotCom since September. It ceased to be a substantial shareholder of the company after disposing of some 5.77 million shares on the open market, which is equivalent to a 1 percent equity stake on October 12.
<h3 style="text-align: left;">Anzo to commit $4.7m for Porto De Melaka project</h3>
<a href="http://www.bloomberg.com/research/stocks/snapshot/snapshot.asp?ticker=ANZO:MK" target="_blank">Anzo Holdings Bhd</a> said it has to make a financial commitment of MYR20 million ($4.7 million) for the Porto De Melaka project, with the funds to be raised via rights issue.The company said  in a Bursa Malaysia filing that it  intends to raise  the funds required via a rights issue.
The project was recently awarded to its wholly-owned  subsidiary, Harvest Court  Construction Sdn Bhd.
Anzo added that Harvest Court had been invited by Tinta Anggun Engineering Sdn Bhd to participate in the tender for the first phase of the project, with the contract awarded via subsequent negotiation.
Meanwhile, the scope of works entails the cover design, approval, build and delivery for Phase 1 of the project, which includes piling and pile caps  for the entire project, all building, architectural and mechanical and electrical works.
The works will be for 120 units of service suites, 24 units of SPA villas, a 670-bay basement carpark, 135 motorcycle parking bays, and ancillary services and associated external facilities and services, including roadways, sewerage, water reticulation, river embankment and river front broadway and landscape.
It said the development order was obtained on September 10, with the detailed design components currently being finalised with an international hotel brand.
<h3 style="text-align: left;">Notion VTec founder cuts stake in company, no</h3>
<h3 style="text-align: left;">longer the substantial shareholder</h3>
<a href="http://www.notionvtec.com/index.php" target="_blank">Notion VTec Bhd</a> executive chairman Thoo Chow Fah has ceased to be a substantial shareholder of the company following the sale of 2.7 million shares in the open market.
In a filing with Bursa Malaysia, the high precision metal component maker said he has a remaining direct stake of 4.988 percent after selling the 0.998 per cent interest.
However, Thoo also has deemed interest in the securities held by his spouse Choo Wai Sook, which represents a 5.308 per cent stake. Since Friday last week, Thoo  has sold 7.2 million direct shares or about 2.66 percent in the open market. He started the calendar year with 7.672 per cent direct interest and 1.815 per cent indirect stake in the company, according to the 2014 annual report.
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Corporates raising money for working capital and projects and changes in shareholding of substantial shareholders such as EPF and Notion VTecs founder were the flavour of the week in Malaysia.

MY Dealbook: KNM, Anzo investments; Shareholding change in TIME dotCom & Notion VTec

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MY Dealbook: KNM, Anzo investments; Shareholding change in TIME dotCom & Notion VTec

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