Malaysia stock market and companies daily report (May 14, 2012)

State-controlled plantation, Felda Global Ventures Holdings (Felda Global) is planning to price its initial public offering at up to RM4.65 a share for institutional investors, a move that could help it raise as much as US$3.3 billion, and be of the biggest flotations in the world this year. Despite missing all of its headline key performance indicators (KPI) in 2011, Axiata is on track to achieve its headline KPI in 2012. Telekom Malaysia (TM)’s shareholders had on last week approved a capital repayment of RM0.30 per share by way of capital reduction amounting to RM1.1 billion which would be funded through its existing cash balances.