News in brief


PWE INDUSTRIES BHD is exploring the possibility of acquiring major interests in a group of companies engaged in the haulage, freight forwarding and warehousing business, a PWE statement said. 

The company said it would make further announcements should there be any definite developments resulting from this exercise. 

No other details were given in the statement. – AFX 

Woodlandor Holdings Bhd said its 1-for-3 renounceable rights issue of 6.666 million new shares of RM1 each, at an issue price of RM1 per share, was undersubscribed by 34.79%. 

As of the close of the rights issue acceptance on April 30, the total acceptances and excess applications received was for 4.347 million rights shares, or 65.21% of the total shares available for subscription. 

This represents an undersubscription of 2.319 million shares or 34.79% of the shares available for subscription. 

Woodlandor manufactures wood-based products for the building industry such as fire resistant door-sets and pre-fabricated timber roof trusses and knock-down furniture. – AFX  

HUNZA PROPERTIES BHD will buy six pieces of freehold land in Kuala Lumpur measuring a total of 5.6ha from Lu Pat Sdn Bhd for RM33.132mil in cash. 

Hunza said in a statement that the land was located near the high-end residential area of Seputeh and it intended to develop the land into a mixed residential gated community targeted for the higher-end market. 

Layout and building plans will be submitted accordingly to the relevant authorities. 

The payment sum would be financed by internally generated funds or bank borrowings, it said. – AFX 

Nestle (M) Bhd posted a pre-tax profit of RM71.73mil in the first quarter ended March 31, 2003, up from RM63.79mil recorded in the same quarter of last year. Its revenue rose to RM655.31mil from RM631.66mil. – Bernama 

Concrete Engineering Products BHD recorded a pre-tax loss of RM350,000 in the second quarter ended Feb 28, 2003 versus a pre-tax profit of RM1.61mil in the preceding year corresponding quarter. 

Its revenue was at RM18.88mil from RM21.77mil. 

For the first half ended Feb 28, 2003, its pre-tax profit amounted to RM254,000, up from RM148,000 previously. – Bernama 

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Next In Business News

Oil prices tumble 2% as Opec+ members argue over 2021 policy
OSK posts 3Q net profit of RM105.21mil
RHB Bank 3Q net profit slightly higher at RM622m
Tokyo Stock Exchange CEO to resign over Oct system failure
AMMB posts higher 1H underlying net profit of RM791.9m
BIMB posts 3Q net profit of RM135.81mil
Confidence in PN government lifts palm oil prices
KLCI takes pause as investors digest recent gains
AmInvest Research maintains Buy on Hong Leong Bank, FV RM19.30
Maybank’s 9M core net profit within CGS-CIMB Research’s forecast

Stories You'll Enjoy