News in brief

SITT TATT BHD has applied to the Securities Commission for a four-month extension till Aug 28 to complete its restructuring. 

In a statement, the company said the extension would provide it with sufficient time to implement the restructuring, as its EGM to consider the revamp would be held only on April 23. 

Sitt Tatt's restructuring plan involves asset acquisitions, a one-for-two rights issue, an employees share option scheme and a waiver to the new shareholder from making a mandatory general offer. – AFX 

ASIA PACIFIC LAND BHD

announced a joint-venture agreement has been signed among APL Construction Sdn Bhd, Asia Pacific Land Bhd and Sem Siong Industries Sdn Bhd for the proposed development of three blocks of apartments in Jalan Ipoh, Kuala Lumpur. – Bernama 

AMANAH FUTURES & OPTIONS SDN BHD, a wholly owned subsidiary of Amanah Equities Sdn Bhd which in turn is wholly owned by Amanah Capital Partners Bhd, had ceased operations with effect from last week. 

As such, the company's membership on Malaysia Derivatives Exchange Bhd will be suspended indefinitely. – Bernama 

In a statement, the company said the extension would provide it with sufficient time to implement the restructuring, as its EGM to consider the revamp would be held only on April 23.