PETROLIAM NASIONAL BHD'S units Malaysia LNG Sdn Bhd and MLNG Tiga Sdn Bhd have signed two separate agreements of US$20bil to supply liquefied natural gas to The Tokyo Electric Power Co In and Tokyo Gas Company Ltd. – AFX TANJONG PLC said it is invoking Securities Commission Act provisions to compulsorily acquire the remaining shares that it does not already own in Powertek Bhd. Tanjong now holds more than 90% of the power company. It said in a statement that the general offer for Powertek shares closed on Feb 21, and as announced on Feb 24, Tanjong then secured acceptances for 13.98% interest in Powertek to bring its total stake to 99.18. Tanjong said it had yesterday despatched the notice to the remaining Powertek shareholders for the acquisition of the Powertek shares. – AFX
HALIM MAZMIN BHD (HMB) said it has entered into an agreement with Powick Marine (s) Pte Ltd to acquire an additional 40% equity interest in its subsidiary companies, Sterling Shipping Sdn Bhd and Splendid Shipping Sdn Bhd for a cash consideration of RM2. With the acquisition, Sterling and Splendid would become wholly-owned subsidiary companies of HMB. – Bernama TH GROUP BHD said Bank Negara has approved the investment by its wholly-owned subsidiary THG Capital Sdn Bhd into TFX Inc. wherein THG Capital has subscribed for 127,273 common stocks of US$0.01 each, 273,638 (8%) series A preferred stocks of US$1 each and 63,638 (8%) senior secured convertible promissory notes in TFX for a total cash subscription of US$350,000. The investment into TFX represents 9.4% of post equity interest in the company. – Bernama
ALLIANCE MERCHANT BANK BHD said an application in respect of the RM150mil underwritten commercial papers/medium term notes had been submitted to the Securities Commission on behalf of Malaysian Plantations Bhd last Friday. – Bernama RASHID HUSSAIN BHD (RHB) announced on Friday that its wholly-owned subsidiary RHB Kawal Sdn Bhd has disposed of a company car, a Proton Perdana, and a Nokia 8250 to a past director of RHB Kawal, Mohamed Hussin Salleh, for an aggregate cash consideration of RM42,200. The disposal is not expected to have any material effect on the earnings of RHB group, the statement said. – Bernama
Malaysian Rating Corp Bhd (MRCB) has placed FABER GROUP BHD's RM1,561,652,149 nominal value of zero coupon redeemable convertible bonds (RCB) rating on MARC Watch with developing outlook. MARC placed the BB- rating of Faber's redeemable convertible bonds (RCB) on MARC Watch with developing outlook, premised on the current negotiations for the restructuring of the RCB. – Bernama
TANJONG PLC said it is invoking Securities Commission Act provisions to compulsorily acquire the remaining shares that it does not already own in Powertek Bhd. Tanjong now holds more than 90% of the power company. It said in a statement that the general offer for Powertek shares closed on Feb 21, and as announced on Feb 24, Tanjong then secured acceptances for 13.98% interest in Powertek to bring its total stake to 99.18. Tanjong said it had yesterday despatched the notice to the remaining Powertek shareholders for the acquisition of the Powertek shares. – AFX
HALIM MAZMIN BHD (HMB) said it has entered into an agreement with Powick Marine (s) Pte Ltd to acquire an additional 40% equity interest in its subsidiary companies, Sterling Shipping Sdn Bhd and Splendid Shipping Sdn Bhd for a cash consideration of RM2. With the acquisition, Sterling and Splendid would become wholly-owned subsidiary companies of HMB. – Bernama TH GROUP BHD said Bank Negara has approved the investment by its wholly-owned subsidiary THG Capital Sdn Bhd into TFX Inc. wherein THG Capital has subscribed for 127,273 common stocks of US$0.01 each, 273,638 (8%) series A preferred stocks of US$1 each and 63,638 (8%) senior secured convertible promissory notes in TFX for a total cash subscription of US$350,000. The investment into TFX represents 9.4% of post equity interest in the company. – Bernama
ALLIANCE MERCHANT BANK BHD said an application in respect of the RM150mil underwritten commercial papers/medium term notes had been submitted to the Securities Commission on behalf of Malaysian Plantations Bhd last Friday. – Bernama RASHID HUSSAIN BHD (RHB) announced on Friday that its wholly-owned subsidiary RHB Kawal Sdn Bhd has disposed of a company car, a Proton Perdana, and a Nokia 8250 to a past director of RHB Kawal, Mohamed Hussin Salleh, for an aggregate cash consideration of RM42,200. The disposal is not expected to have any material effect on the earnings of RHB group, the statement said. – Bernama
Malaysian Rating Corp Bhd (MRCB) has placed FABER GROUP BHD's RM1,561,652,149 nominal value of zero coupon redeemable convertible bonds (RCB) rating on MARC Watch with developing outlook. MARC placed the BB- rating of Faber's redeemable convertible bonds (RCB) on MARC Watch with developing outlook, premised on the current negotiations for the restructuring of the RCB. – Bernama