News in brief

  • Business
  • Saturday, 05 Apr 2003

NANYANG PRESS HOLDINGS BHD has received Securities Commission (SC) approval to make a 1-for-4 bonus issue of 15,5477,668 shares of RM1 each in the company. 

The SC has also approved the termination of an existing employees share option scheme (Esos) and a proposed Esos of up to 10% of the issued and paid-up share capital of the company. 

·OVERSEAS & General Ltd, a 51%-owned subsidiary of Land & General Bhd, has entered into a shareholders cum joint venture agreement with Protonweb Solutions Ltd of India to offer business process outsourcing (BPO) services in India. 

Pursuant to the agreement, Protonweb BPO Pte Ltd will be the joint-venture company that will focus on the customer relationship management market in India.  

The main objectives of this company include setting up the Chennai call centre in India and establishing a marketing presence in the US. 

Kuala Lumpur Kepong Bhd'S wholly-owned subsidiary KLK Overseas Investment Ltd has incorporated a new company, B.K.B Europa SARL, in France. The proposed principal activity of the new company, which is currently non-operational, is the marketing of wood-based products. 

Public Merchant Bank Bhd, on behalf of RHB CAPITAL BHD, announced that all conditions precedent to the proposed issue of RM200mil nominal amount of 6-year 7.5% bonds had been fulfilled. The RHB Capital bonds were issued yesterday. 

MALAYSIAN RESOURCES CORP BHD (MRCB) has completed its acquisition of the entire capital of Landas Utama Sdn Bhd, the company said in a statement. 

Landas Utama's main asset is its 24.9% stake in property developer UDA Holdings Bhd. 

MRCB is paying RM88mil cash for the acquisition. – AFX 

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