News in brief

  • Business
  • Saturday, 15 Feb 2003

NOVELL CORP has appointed Dr Andy C L Woo as its managing director for Asean. 

Based at Novell Malaysia, he is responsible for the company’s business operations in six countries, including Malaysia, Thailand, the Philippines, Singapore, Indonesia and Vietnam. – Bernama 

Southern Steel Bhd’S (SSB) board of directors has resolved to fix the conversion price of the irredeemable convertible unsecured loan stocks (Iculs) at RM1.03 for every one ordinary share of RM1 each in SSB. 

This is with respect to the proposed renounceable rights issue of up to RM141.176mil nominal amount of 5.5% 5-year Iculs at 100% of the nominal amount on the basis of RM1 nominal amount of Iculs for every two existing ordinary shares of RM1 each held in SSB. 

The said price represented a discount of about 9.6% from the weighted average market price of SSB shares for the five market days up to Feb 7, 2003, of RM1.14. 

SSB said the conversion price shall be satisfied solely by the tender of RM1.03 nominal amount of Iculs by the Iculs holders for cancellation by SSB. – Bernama 

KPS Consortium Bhd said its executive chairman Izhar Sulaiman has resigned from his position in the company. 

Following Izhar’s resignation, the post of chairman is being left vacant for the time being, KPS said in a statement. – AFX 

RASHID HUSSAIN BHD (RHB) has an- nounced the resignation of its non-executive directors Datuk Oh Chong Peng and Ruslan Hassan. It said in a statement to the KLSE that their resignations took effect on Monday. 

Oh, 58, holds directorships in British American Tobacco (M) Bhd, Land & General Bhd, Star Publications (M) Bhd, Nanyang Press Holdings Bhd, Renong Bhd and RHB Insurance Bhd, while Ruslan, 46, is a director in Puncak Niaga Holdings Bhd

PJI HOLDINGS BHD, at the request of AWC Facility Solutions Bhd, has extended the deadline for the fulfilment of a share sale agreement with AWC for six months to June 30. 

PJI wholly-owned subsidiary PJ Indah Sdn Bhd had signed a conditional share sale agreement with AWC to dispose of its entire 61% stake in Kejuruteraan Putrajaya Sdn Bhd, comprising 183,000 ordinary RM1 shares for RM8.25mil. to be settled by the issuance of 13.75 million 50 sen shares in AWC. 

The agreement was subject to certain conditions which were to be fulfilled on or before Dec 31 last year. 

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