KLIG shares undersubscribed

  • Business
  • Saturday, 10 May 2003

THE 10 million KL Infrastructure Group Bhd (KLIG) shares offered to the general public as part of the company's initial public offering (IPO) have been undersubscribed, MIDF Consultancy and Corporate Services Sdn Bhd (MIDFCCS) said. 

The 10 million shares are part of KLIG's 202.297 million IPO shares of 50 sen par each at a per unit price of 51 sen.  

MIDFCCS said in a statement that the 10 million shares available to the public saw a subscription rate of just 60.34%.  

Of the remaining 192.297 million shares being offered, 2 million are reserved for employees of KLIG, 6 million for employees of Mtrans Holdings Sdn Bhd, 115.02 million for bumiputra investors and 69.277 million for private placement. – AFX 


Killinghall appoints  

non-exec chairman 


KILLINGHALL (Malaysia) Bhd has appointed Syed Mohd Yusof Syed Nasir as non-independent and non-executive chairman and director effective yesterday, according to a company filing to the KLSE. 

Killinghall said Syed Yusof replaces Mohammad Abdus Salim S Cassim, who resigned on the same day. 

Currently, Syed Yusof sits on the boards of various private limited companies which have extensive interest in property development, retail, information technology, media, hotel operations and entertainment, it added. Syed Yusof is a substantial shareholder of Ramuda Bhd, which is in turn a substantial shareholder of Killinghall. 

Killinghall said Kathleen Loh Ai Ling also resigned as independent and non-executive director from yesterday. – AFX  


Nigeria deal for Iris 



IRIS CORP Bhd will provide its tamper-proof passport technology called IRIS smart passport to Nigeria, the third country after Malaysia and Myanmar to adopt it. 

Iris announced that it had yesterday received a letter of intent dated April 30 from the Nigerian Ministry of Internal Affairs awarding the company the implementation and integration of the technology into the new Nigerian passport. – Bernama 

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