News in brief

  • Business
  • Tuesday, 15 Apr 2003

MALAYSIA INTERNATIONAL SHIPPING CORP BHD (MISC) has ordered four tankers from Samsung Heavy Industries Co Ltd as part of its expansion plan, a company statement said. 

The tankers comprise two 145,000 cubic metres LNG tankers and two Aframax tankers. – AFX 

TAI WAH GARMENT MANUFACTURING CO (M) BHD will transfer its listing to a new company and will propose a private placement of 10.058 million new shares, or 10%, of an enlarged share capital. 

Tai Wah said this in a statement but did not give the name of the new company or identify any of the firms that would take up the placed shares. The proceeds raised will be used to repay part of the new company's borrowings of RM41.774mil, it said. 

It said that the repayment would effectively reduce its gearing level and interest costs. The proposal is subject to approval from the regulatory authorities. – AFX 

POWERTEK BHD shares will be delisted from the KLSE from Friday, following the completion of a general offer by Tanjong PLC, the KLSE said in a statement. Trading in Powertek shares has been suspended since February. - AFX 

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