News in brief

  • Business
  • Wednesday, 14 May 2003

MALAYSIAN OXYGEN BHD (MOX) posted a net profit of RM26.57mil for the 2nd quarter ended March 31, up 28% from the same period last year. Group turnover for the quarter rose to RM135.94mil from RM117.16mil. 

The improved result was largely due to synergistic benefits in manufacturing, marketing, sales and distribution that were realised from smooth consolidation of Nippon Industrial Oxygen Incorporated Bhd’s business into MOX following the takeover last year, said MOX managing director David Fuller. – Bernama 

AKN MESSAGING TECHNOLOGIES BHD, listed on the Mesdaq Market, has recorded a pre-tax profit of RM1.52mil for the third quarter ended March 31, 2003. 

The group, which was in its first year of operation, recorded a revenue of RM4.095mil. – Bernama 

MULTIPURPOSE HOLDINGS BHD has announced that its wholly-owned subsidiary, Dynamic Pearl Sdn Bhd had entered into a conditional share sales agreement with Idris Osman for the disposal of 10.741 million shares of RM1 each, representing 4.3% equity interest in A.A Anthony Securities Sdn Bhd (AASB) for a total consideration of RM10.741mil. 

Following the completion of the proposed disposal, Dynamic Pearl’s equity interest in AASB will be dwon to 95.7%. – Bernama 

Denko Industrial Corp BHD has announced that it had been given the approval by Bank Negara for the proposed issuance of debt/equity securities to the bank lenders of Denko and certain of its subsidiaries, namely Trimate Industries Sdn Bhd and Skiva Holdings Sdn Bhd. – Bernama 

BOUSTEAD HOLDINGS BHD has proposed a voluntary offer to acquire the remaining 54.205 million ordinary RM1 shares in Kuala Sidim Bhd, representing approximately 43.53% of the existing issued and paidup share capital of Kuala Sidim not already owned by Boustead for about RM325mil or RM6 per share. – Bernama  

United Plantations Bhd recorded a higher pre-tax profit of RM33.04mil for the first quarter ended March 31, 2003 compared with RM10.63mil in the previous corresponding period. Its revenue also rose to RM99.82mil from RM62.49mil previously. – Bernama 

Austral Amal Properties Sdn Bhd, a subsidiary of FURQAN BUSINESS ORGANISATION BHD, has signed a conditional sale and purchase agreement with MarinaAce Industries Sdn Bhd to dispose of a piece of landed property in Bandar Petaling Jaya, Kuala Lumpur. 

The land measures about 87,972 sq ft together with a 6-storey office/warehouse complex with 131 parking bays. The net book value of the assets is RM42mil. The property is now 60% rented out. – Bernama 

IOI Corp Bhd’S subsidiary Loders Croklaan Group B.V has acquired the entire issue and paid-up capital of SIM Intelliport Sdn Bhd, comprising two RM1 shares each for RM2 cash. 

SIM, now dormant, will undertake Loders Croklaan’s Malaysia operations to cater to the Asia-Pacific business. – Bernama 

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