HALISTER: Broadspectrum Investor Allan Gray Yet to Decide on Ferrovial Bid

Broadspectrum Investor Allan Gray Yet to Decide on Ferrovial Bid

(Bloomberg) -- Allan Gray, Broadspectrum’s biggest shareholder, seeking detail from co. on impact of Papua New Guinea govt decision to close Manus Island refugee processing facility, Chief Investment Officer Simon Mawhinney says by phone.
  • NOTE: Broadspectrum operates the Manus Island facility
  • “What Australia might do on the back of the closure, and the impact of that on Broadspectrum makes things quite uncertain at this stage”: Mawhinney
  • Allan Gray meeting Broadspectrum mgmt to seek information on PNG decision, delay in recovery in performance of its infrastructure business: Mawhinney
  • “It is a live discussion, and we don’t have to make a decision today”: Mawhinney
  • Allan Gray will make decision on Ferrovial bid by May 2 deadline: Mawhinney
  • Ferrovial said in ASX filing today it has acceptances from 23.74% of Broadspectrum shareholders, up from 16.14% yday
  • NOTE: Mawhinney said April 4 Ferrovial bid “significantly undervalues” co.; did not plan to accept offer
  • NOTE: Allan Gray holds 18.7% of Broadspectrum: Bloomberg data
  • NOTE: PNG to Close Refugee Camp in Blow to Australia
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
BRS AU (Broadspectrum Ltd)
FER SM (Ferrovial SA)
0364776D AU (Allan Gray Australia Pty Ltd/Australia)

People
Simon Mawhinney (Allan Gray Australia Pty Ltd/Australia)

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UUID: 7947283

HALISTER1: INSIDE MALAYSIA: New BNM Governor Means Continuity, Goldman Says

INSIDE MALAYSIA: New BNM Governor Means Continuity, Goldman Says

(Bloomberg) -- Ringgit extends gains after announcement of new BNM governor late yesterday is seen as a mkt-friendly appointment.
  • Expect to see continuity in the management of monetary policy, and don’t expect a shift in current monetary policy framework, Goldman Sachs write in note received today
    • New governor is a career central banker and has worked closely with Zeti for almost 6 years
    • Test for new governor will come more from financial stability management
  • Outgoing governor Zeti says Muhammad Ibrahim’s inclusion in central bank’s policy team will provide continuity and much needed certainty in “this prevailing period of great uncertainty”, according to e-mailed statement on April 27
  • Incoming governor Muhammad Ibrahim pledged to maintain policy stability
  • Ringgit gains 0.4% to 3.8975 per USD after climbing 0.3% yday
  • USD/MYR 1-month NDF steady at 3.9012; above 21-DMA at 3.8958
  • USD/MYR consolidating above near term base at 8-month low
    • Resistance: 3.9520, April 26 high; 3.9625, April 18 high; 3.9757, March 30 high
    • Supports broken at 3.9002, April 26 low and 3.8965, April 22 low; next support at 3.8503, April 20 low
  • Five-year credit-protection costs for Malaysia rose yesterday by 1 bp to 163.5 bps, highest daily close since March 28, according to CMA New York data
  • Malaysia to sell MYR3b of 7-year bonds today
  • Yield on 3.955% govt bond due Sept. 2025 closed yesterday 4 bps higher at 3.890%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283