News in brief


  • Business Premium
  • Tuesday, 04 Mar 2003

  • CELCOM MALAYSIA BHD will be holding an EGM on March 20 to seek shareholders' approval for its proposed acquisition of the entire equity in TM Cellular Sdn Bhd from Telekom Malaysia Bhd. – AFX 

  • Atlan Holdings Bhd said its renounceable three-for-one rights issue of 53.787 million new shares at RM1.20 each had been oversubscribed by 3.11%. 

    In a statement, the company said that at the close of the rights issue on Feb 28, it had received total acceptances and excess applications for 55.458 million shares. – AFX 

  • RASHID HUSSAIN BHD has appointed Sulaiman Abdul Rahman Taib as chairman of the company effective yesterday. 

    The company said Sulaiman was redesignated as chairman after being appointed as non-independent, non-executive director on Feb 19. Sulaiman is also chairman and director of Cahya Mata Sarawak Bhd and a director of Utama Banking Group Bhd. – AFX 

  • Heitech Padu Bhd has won a RM17mil contract to supply two million blank travel documents and a printing system including a five-year maintenance contract from the Department of Immigration and Emigration of Sri Lanka. 

    The company said in a statement the project would start on Jan 31 and would end on completion of the printing of the two million passports and the delivery of a printing system or the expiry of the five-year maintenance contract, whichever occured earlier. – AFX 

  • TAP RESOURCES BHD subsidiary Rantau-Biru Development Sdn Bhd has signed a memorandum of intent with Duta Skyline Sdn Bhd to buy a 500-acre plot of land in Selangor. 

    In a statement, the company said that the proposed transaction was subject to pre-approval from the Securities Commission, shareholders and national asset management company Pengurusan Danaharta Nasional Bhd, and Bank Islam Bhd, being the chargees of the land. 

    TAP said it would pay for the acquisition by issuing new shares to the vendors and loan stocks or other debt securities with a nominal value of RM1 to the chargees as payment for the land to enable the chargees to release all their rights and claims to the land. – AFX 

  • HUME CEMBOARD BHD has completed the sale of its assets and operations and its entire stake in Malex Industrial Products Sdn Bhd to another unit, Hume Cemboard Industries Sdn Bhd. 

    Hume Cemboard Industries, formerly known as Ambang Subur Sdn Bhd, paid RM310mil cash for the acquisitions. – AFX 

  • Malaysia Smelting Corp BHD will buy a 30% stake in Australian listed tin mining firm Marlborough Resources NL for A$5.32mil via placement of new shares. 

    In a statement, the company said the shares would be bought in two tranches of 34.857 million and 64.735 million Marlborough Re-sources shares, respectively, at A$0.05 a share. 

    Malaysia Smelting said it did not have to make a general offer if its equity stake in Marlborough Re-sources reaches 30%. 

    The company will appoint a nominee to Marlborough Resources’ board after the completion of each tranche. The share placements are still pending shareholder approval. 

    Marlborough Resources operates an open pit alluvial tin mine at Ardlethan, New South Wales, which commenced production in July 2001. 

    Production for the October-De-cember 2002 quarter was 283 ton-nes of tin metal, but on completion of the current expansion programme by the end of the second quarter of 2003, the mine is expected to produce about 1,500 tonnes of tin metal per year and will be one of the world’s lowest cost producers of tin metal. Marlborough Resources’ cash cost was expected to average about US$3,350 per tonne of tin metal, Malaysia Smelting said, adding that based on current reserves and resources, the mine was expected to have a mine life exceeding five years. – AFX 

  • NEW HOONG FATT HOLDINGS BHD has posted lower pre-tax profit of RM19.7mil for the financial year ended Dec 31, 2002, down 6% from RM20.9mil in 2001. 

    Revenue, however, increased by 2.3% to RM113.6mil from RM 111.1mil, boosted by an 18% in-crease in export sales. The group's net tangible assets per share grew to RM1.79 as at Dec 31, 2002 compared with RM1.60 at Dec 31, 2001. 

    Barring any unforeseen circumstances, the group's financial performance this year would probably be comparable to last year's performance. – Bernama 

  • MBF HOLDINGS BHD has reported a reduced pre-tax loss of RM 129.858mil for the financial year ended Dec 31, 2002 from a pre-tax loss of RM150.468mil in 2001. 

    The loss was incurred on a higher revenue of RM754.616mil against RM683.339mil. Loss per share was reduced to 13.92 sen from 15.54 sen previously. – Bernama 

  • Utusan Melayu (M) Bhd has returned to the black with a pre-tax profit of RM15.341mil for the financial year ended Dec 31, 2002 as against a pre-tax loss of RM 44.114mil in 2001. 

    The profit was achieved on a revenue of RM337.977mil, a marginal increase from preceding year's RM334.12mil. It had also reported earnings per share of 13.8 sen compared with a loss per share of 53.81 sen previously. – Bernama 

  • Puncak Niaga Holdings Bhd has registered a slight increase in pre-tax profit to RM180.113mil for the financial year ended Dec 31, 2002 from RM179.689mil reported in 2001. The profit was on the back of a higher revenue of RM565.105 mil against RM552.337mil. Earnings per share, however, remained at 40.99 sen. – Bernama  
  • ATLAN HOLDINGS BHD said its renounceable three-for-one rights issue of 53.787 million new shares at RM1.20 each had been oversubscribed by 3.11%. 

    In a statement, the company said that at the close of the rights issue on Feb 28, it had received total acceptances and excess applications for 55.458 million shares. – AFX 

  • RASHID HUSSAIN BHD has appointed Sulaiman Abdul Rahman Taib as chairman of the company effective yesterday. 

    The company said Sulaiman was redesignated as chairman after being appointed as non-independent, non-executive director on Feb 19. Sulaiman is also chairman and director of Cahya Mata Sarawak Bhd and a director of Utama Banking Group Bhd. – AFX 

  • HEITECH PADU BHD has won a RM17mil contract to supply two million blank travel documents and a printing system including a five-year maintenance contract from the Department of Immigration and Emigration of Sri Lanka. 

    The company said in a statement the project would start on Jan 31 and would end on completion of the printing of the two million passports and the delivery of a printing system or the expiry of the five-year maintenance contract, whichever occured earlier. – AFX 

  • TAP RESOURCES BHD subsidiary Rantau-Biru Development Sdn Bhd has signed a memorandum of intent with Duta Skyline Sdn Bhd to buy a 500-acre plot of land in Selangor. 

    In a statement, the company said that the proposed transaction was subject to pre-approval from the Securities Commission, shareholders and national asset management company Pengurusan Danaharta Nasional Bhd, and Bank Islam Bhd, being the chargees of the land. 

    TAP said it would pay for the acquisition by issuing new shares to the vendors and loan stocks or other debt securities with a nominal value of RM1 to the chargees as payment for the land to enable the chargees to release all their rights and claims to the land. – AFX 

  • HUME CEMBOARD BHD has completed the sale of its assets and operations and its entire stake in Malex Industrial Products Sdn Bhd to another unit, Hume Cemboard Industries Sdn Bhd. 

    Hume Cemboard Industries, formerly known as Ambang Subur Sdn Bhd, paid RM310mil cash for the acquisitions. – AFX 

  • MALAYSIA SMELTING CORP BHD will buy a 30% stake in Australian listed tin mining firm Marlborough Resources NL for A$5.32mil via placement of new shares. 

    In a statement, the company said the shares would be bought in two tranches of 34.857 million and 64.735 million Marlborough Re-sources shares, respectively, at A$0.05 a share. 

    Malaysia Smelting said it did not have to make a general offer if its equity stake in Marlborough Re-sources reaches 30%. 

    The company will appoint a nominee to Marlborough Resources’ board after the completion of each tranche. The share placements are still pending shareholder approval. 

    Marlborough Resources operates an open pit alluvial tin mine at Ardlethan, New South Wales, which commenced production in July 2001. 

    Production for the October-De-cember 2002 quarter was 283 ton-nes of tin metal, but on completion of the current expansion programme by the end of the second quarter of 2003, the mine is expected to produce about 1,500 tonnes of tin metal per year and will be one of the world’s lowest cost producers of tin metal. Marlborough Resources’ cash cost was expected to average about US$3,350 per tonne of tin metal, Malaysia Smelting said, adding that based on current reserves and resources, the mine was expected to have a mine life exceeding five years. – AFX 

  • NEW HOONG FATT HOLDINGS BHD has posted lower pre-tax profit of RM19.7mil for the financial year ended Dec 31, 2002, down 6% from RM20.9mil in 2001. 

    Revenue, however, increased by 2.3% to RM113.6mil from RM 111.1mil, boosted by an 18% in-crease in export sales. The group's net tangible assets per share grew to RM1.79 as at Dec 31, 2002 compared with RM1.60 at Dec 31, 2001. 

    Barring any unforeseen circumstances, the group's financial performance this year would probably be comparable to last year's performance. – Bernama 

  • MBF HOLDINGS BHD has reported a reduced pre-tax loss of RM 129.858mil for the financial year ended Dec 31, 2002 from a pre-tax loss of RM150.468mil in 2001. 

    The loss was incurred on a higher revenue of RM754.616mil against RM683.339mil. Loss per share was reduced to 13.92 sen from 15.54 sen previously. – Bernama 

  • UTUSAN MELAYU (M) BHD has returned to the black with a pre-tax profit of RM15.341mil for the financial year ended Dec 31, 2002 as against a pre-tax loss of RM 44.114mil in 2001. 

    The profit was achieved on a revenue of RM337.977mil, a marginal increase from preceding year's RM334.12mil. It had also reported earnings per share of 13.8 sen compared with a loss per share of 53.81 sen previously. – Bernama 

  • PUNCAK NIAGA HOLDINGS BHD has registered a slight increase in pre-tax profit to RM180.113mil for the financial year ended Dec 31, 2002 from RM179.689mil reported in 2001. The profit was on the back of a higher revenue of RM565.105 mil against RM552.337mil. Earnings per share, however, remained at 40.99 sen. – Bernama  
  • Article type: metered
    User access status: 3
    Join our Telegram channel to get our Evening Alerts and breaking news highlights
       

    Next In Business News

    Digi posts net profit of RM304.55mil in 4Q, div of 3.9c/share Premium
    FBM KLCI rises slightly ahead of CNY week Premium
    Trading in Sime Darby Plantation suspended Premium
    Malaysia's external trade surpasses RM2tril in 2021 Premium
    UEM Sunrise exceeds 2021 target with RM1.46bil sales Premium
    Malaysia's top placing on investment index underscores strong foreign investor confidence Premium
    Ringgit opens weaker as US economic data boosts greenback Premium
    BHIC appoints independent, non executive director Premium
    Axiata's proposed Link Net acquisition to create new synergies Premium
    FBM KLCI stays firm as elevated crude prices offer support Premium

    Others Also Read


    Vouchers