News in brief


  • Business
  • Tuesday, 25 Mar 2003

KELANAMAS INDUSTRIES BHD said that a writ of summons was served by the Malaysian government against its 51% subsidiary, XL Industries Sdn Bhd (XLI) on March 21, 2003. The company also said that due to outstanding income tax as-sessments for years 1992 and 1993, Lembaga Hasil Dalam Negeri had initiated action to recover RM 4.191mil against XLI. – Bernama 

KURNIA SETIA BHD has given advances amounting to RM231, 538.40 to its subsidiary company, GE Sunny Dale Industries Sdn Bhd on March 21. The advances will aid the subsidiary, involved in selling and manufacturing office furniture, to secure a project with Felda Bhd to supply office furniture to Wisma Felda in Kuala Lumpur. The project was expected to reap a 20% profit on the contract sum of RM341,000 and Felda was expected to remit the payment to the subsidiary company within 60 days upon the completion of the project. – Bernama 

Dataprep Holdings Bhd has chosen not to set aside a winding-up petition served on its subsidiary, DataPrep Distribution Holdings Sdn Bhd (DDSB), by Fujitsu. A summary judgment was obtained by Fujitsu on Sept 23, 1997 which claimed that it has supplied computer hardware at the selling price of RM3.214mil to DDSB. – Bernama  

KUMPULAN EMAS BHD (KEB) intends to place out the 9th tran-che of the proposed private placement of 2.4 million new ordinary shares of 50 sen each in KEB to an identified investor. KEB directors has fixed the price of the placement shares at 50 sen each, which represents the par value of KEB share and a premium of about 42.45% over the 5-day weighted average market price up to March 20, 2003 of RM0.351 per KEB share. – Bernama 

SIN KEAN BOON GROUP BHD said it has received a letter from Choy & Associates, the solicitors for SKB Metal Bhd, demanding RM972,300 and interest of RM 74,078.39, being rental of premises from July 2001 to March 2003, to be paid within 7 days. The premises are located at Lots No. 466 &472, Jalan Perusahaan Baru 1, non-free industrial zone, phase 11, Perai industrial estate, Perai, Penang. – Bernama 

LEADER STEEL MARKETING BHD, a wholly-owned subsidiary of Leader Steel Holdings Bhd, was placed under members’ voluntary winding up on March 21. – Bernama 

Ho Hup Construction Co Bhd’S directors declared there was no contingent liability or other liability that has become enforceable or is likely to become enforceable within 12 months from March 21 which will or may affect the ability of the group or of the company to meet its obligations as and when they fall due. – Bernama 

FORMOSA PROSONIC MANUFACTURING SDN BHD, a wholly-owned subsidiary of Formosa Prosonic Industries Bhd, has ac-quired 1.5 million RM1 shares in the capital of Acoustech Bhd at RM1.15 per share, for a total RM1.725mil from unrelated third parties via a marriage deal, on March 18. – Bernama 

Rex Industry Bhd directors have determined the price fixing date on March 21, 2003, and fixed the issue price for the 8.1 million new ordinary shares to be issued pursuant to the proposed rights issue at RM1 per rights share. The rights issue price was determined after taking into consideration the weighted average market price of REX shares for the past 5 market days up to and including March 20, 2003, at RM1.329. – Bernama 

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