News in brief

ROAD BUILDER (M) HOLDINGS BHD has reported a slight increase in pre-tax profit to RM79.08mil for its first six months ended Dec 31, 2002, from RM72.39mil in the previous corresponding period.  

The improved result was achieved on higher revenue of RM570.3mil compared with RM421.21mil previously. 

For the second quarter ended Dec 31, the company registered a pre-tax profit to RM45.03mil, up from RM42.81mil previously, while revenue grew to RM305.03mil from RM283.49mil. 

COURTS MAMMOTH BHD has posted lower revenue and profits for its third quarter ended Dec 31, 2002, as the boost in revenue from the opening of five new stores a year ago was not repeated. 

The company opened just one new store during the past quarter and expects to register lower full-year profits than previously.  

Courts Mammoth posted revenue of RM152.1mil for the third quarter to Dec 31 last year compared with RM160.6mil previously. 

Pre-tax profit fell to RM21.2mil from RM29.9mil and net profit dropped to RM15mil from RM21.3mil. Earnings per share fell to 5.31 sen for the Oct-Dec 2002 quarter compared with 7.57 sen in the previous corresponding quarter. 

In a statement to the KLSE, the company said the drop in pre-tax profits was also due to relatively higher overheads. 

METROJAYA BHD has posted a pre-tax loss of RM4.218mil on the back of revenue of RM91.488mil for the third quarter ended Dec 31, 2002, compared with a pre-tax profit of RM1.927mil on revenue of RM79.684mil in the previous corresponding quarter.  

The company also said it incurred a net loss of RM4.787mil for the latest quarter against a net profit of RM1.052mil previously.  

For the nine months ended Dec 31, 2002, its pre-tax loss widened to RM20.382mil from RM2.229mil in the previous corresponding period, while net loss increased to RM22.995mil from RM4.756mil. 

Revenue, however, rose to RM212.392mil from RM199.895mil.  

White Horse Bhd posted a slightly lower pre-tax profit of RM38.8mil for the year ended Dec 31, 2002 compared with RM39.7mil previously, the company said in a filing to the KLSE. 

White Horse also posted a lower pre-tax profit of RM8.9mil for the fourth quarter ended Dec 31, 2002 compared with RM9.86mil in the same quarter in 2001. 

For the whole year, the company's turnover stood at RM273.7 mil, down from RM268.5mil previously. – Bernama 

Zecon ENGINEERING BHD'S pre-tax profit rose to RM5.714mil in the year ended Dec 31, 2002 from RM5.115mil in 2001.  

Revenue rose to RM80.341mil from RM37.699mil previously. – Bernama 

JERASIA CAPITAL BHD'S pre-tax profit declined to RM3.405mil for the year ended Dec 31, 2002 from RM12.263mil in 2001.  

Revenue fell to RM172.602mil from RM184.062mil in 2001. – Bernama 

HIGHLANDS & LOWLANDS BHD'S pre-tax profit for the financial year ended Dec 31, 2002 fell to RM104.223mil from RM241.424mil in 2001. Turnover declined to RM290.181mil from RM463.788mil. – Bernama 

Southern Steel Bhd recorded a pre-tax profit of RM26.742mil in the year ended Dec 31, 2002 compared with a pre-tax loss of RM52.208mil in 2001. Revenue rose to RM1.460bil from RM1.374bil in the previous year. – Bernama 

YE CHIU METAL SMELTING BHD recorded a pre-tax profit of RM14.052mil for the year ended Dec 31, 2002 compared with a pre-tax loss of RM3.456mil in 2001. Its revenue rose to RM334.408mil from RM232.016mil.  

For the fourth quarter ended Dec 31, pre-tax profit rose to RM6.127mil from RM182,000 in the same period last year. – Bernama 

NYLEX MALAYSIA BHD, which has proposed a restructuring including, among others, a capital distribution involving a capital reduction in Nylex and a subsequent distribution of Nylex's investment in unit Tamco to Nylex shareholders, has made certain revisions to the scheme. 

As part of Nylex's capital reduction, 224.487 million Nylex shares of 50 sen par value will now be consolidated into 112.243 million shares of RM1 each compared to an earlier proposal where the shares would not have been consolidated. 

Nylex has consequently revised the basis of the distribution of 224.487 million Tamco shares of 50 sen par value to Nylex shareholders to a basis of two Tamco shares for every one Nylex share of RM1 par value held, instead of one Tamco share for every one Nylex share of 50 sen par value. It also said that the number of Nylex shares to be issued for the purchase of the industrial chemical business unit of parent Ancom Bhd has been revised to 64.427 million shares at an issue price of RM1 instead of 128.854 million shares at 50 sen per share. – AFX 

CELCOM (MALAYSIA) BHD has obtained approval from its bondholders and lenders for its proposed acquisition of 100% equity interest in TM Cellular Sdn Bhd.  

Celcom said it received approval from the holders of its RM100mil Al-Murabahah Commercial Paper and holder of its RM1.1bil Al-Bai Bithaman Ajil Bonds on Jan 24.  

Approval from the lenders of its RM650mil Syndicated Term Loan Facility was obtained on Feb 19. – Bernama 

The improved result was achieved on higher revenue of RM570.3mil compared with RM421.21mil previously.