News in brief


  • Business
  • Saturday, 29 Mar 2003

GENERAL CORP BHD reported a lower profit before tax of RM3.072mil for the financial year ended Jan 31, 2003 from RM6.254mil in the previous year. 

Turnover was higher at RM148.272mil from RM127.567mil. - Bernama 

AUSTRAL ENTERPRISES BHD reported a higher profit before tax of RM73.14mil for the financial year ended Jan 31, 2003 compared with RM23.157mil in the previous year. 

Revenue was also higher at RM272.487mil from RM159.985mil. - Bernama 

ARAB-MALAYSIAN CORP BHD said it had acquired 8 million shares or 0.8% of equity interest in ARAB-MALAYSIA HOLDINGS BHD for RM27,074,200 cash on March 26, 2003. – Bernama 

SILVER BIRD GROUP BHD’s wholly-owned subsidiary Standard Confectionery Sdn Bhd (SCSB) has entered into a sale and purchase agreement with Gulf-Finn Sdn Bhd for the disposal of a land area and attached property for RM4.729mil. 

SCSB’s principal activity is manufacturing of frozen and daily fresh/shelf-stable bakery goods while Gulf-Finn is a property development and investment company. – Bernama 

TIME ENGINEERING BHD has agreed to extend the first cut-off date in relation to the execution of a sale of securities agreement by Time and Ranhill Bhd from March 26, 2003 to April 28, 2003. – Bernama 

AVENUE ASSETS BHD reported a profit before tax of RM7.853mil for the financial period year ended Jan 31, 2003 against a loss before tax of RM19.149mil in the previous year. 

Turnover was higher at RM38.927mil for the period from RM30.680mil previously. – Bernama 

GARMENT manufacturer and retailer HYTEX INTEGRATED BHD will be able to offer a wider range of wares for its local and Singapore markets after its subsidiary won additional licences to manufacture and sell Warner Bros branded infant and children products. 

In an announcement yesterday, Hytex said that its subsidiary Hytex Garments (M) Sdn Bhd had accepted four additional licence agreements offered by the Time Warner Entertainment Co division allowing the group to manufacture and sell Baby Looney Tunes infant products and footwear, as well as The Powerpuff Girls and Looney Tunes children's footwear. 

The company said the duration of the agreements was for the period March 1, 2003 to July 31, 2005 and allowed distribution of the products in outlets such as department stores, hypermarkets and specialty stores across Malaysia and also in Singapore for certain items. 

Jerasia Capital Bhd has been given approval from the Securities Commission and its shareholders to extend its warrants by three years from April 28 up to April 27, 2006. – AFX 

SAPURA MOTORS BHD said its year to January 2003 net profit rose 16.8% to RM 9.509mil because of lower operating costs arising from cost control measures. 

Sales for the year came to RM119.175mil compared to RM119.884mil a year ago while pre-tax profit amounted to RM12.975mil against RM11.249mil previously. 

Going forward, Sapura Motors said that the recent global events that have created some uncertainty in the economy might result in slowdown of sales and affect the company's performance. – AFX 

JUAN KUANG (M) INDUSTRIAL BHD has posted a pre-tax loss of RM7.77mil for the financial year ended Jan 31, 2003 compared with pre-tax profit of RM4.34mil in the previous corresponding period. 

It recorded a higher revenue of RM110.9mil against RM103.9mil in 2002. – Bernama 

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