News in brief

MALAYSIA INTERNATIONAL SHIPPING CORP BHD (MISC) has obtained Bank Negara’s approval to initiate negotiations with the KAF Group to sell its 36.84% stake in Affin Merchant Bank Bhd. 

According to a statement from MISC, the 36.84% stake or 69.078 million shares in Affin Merchant Bank is held by its investment holding company, MISC Enterprises Holdings Sdn Bhd. – AFX 

Kumpulan Fima Bhd said its wholly-owned unit Fima RLA Sdn Bhd had on Jan 10 agreed to sell its entire 100% stake in Fima Asset Management Sdn Bhd to Hickham Capital Sdn Bhd for RM1, inclusive of all rights and liabilities. 

In a statement, Kumpulan Fima said the sale was part of the group’s streamlining exercise following the cessation of its stockbroking business via Fima RLA, which was formerly known as Fima Securities Sdn Bhd.  

The planned sale is subject to the relevant approvals being obtained. – AFX 

The KLSE group of companies will be closed from Jan 31 to Feb 3 in conjunction with the Chinese New Year.  

The exchange said in a statement that it would also be closed on Feb 4, a replacement holiday for Federal Territory Day.  

This year, Federal Territory Day on Feb 1 is also the first day of the Chinese New Year, which is a national public holiday. 

The KLSE will resume operations on Feb 5. – AFX  

BIMB Holdings Bhd said foreign investors held a total of 65.628 million shares representing 11.66% of the company as at Dec 31, 2002. It said the percentage was well within the 30% maximum set aside for foreign investors. – AFX  

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