News in brief

  • Business
  • Saturday, 24 May 2003

BUMIPUTERA-Commerce Bank (BCB) has revised its base lending rate (BLR) downwards to 6% per annum from 6.40% effective today. 

The bank said in a statement yesterday that the move was in line with the government’s decision to reduce the BLR by 50 basis points as announced in the recently unveiled economic package. 

BCB last revised its BLR on Sept 28, 2001, from 6.80% to 6.40%. 

Consequently, interest rates on all loans and advances pegged to the BLR would be adjusted downward accordingly. 

BCB added it had also adjusted upward its interest rates payable on fixed deposits of nine to 12 months tenor (tier1 only), effective yesterday. – Bernama 

Petronas Gas Bhd's pre-tax profit for the fourth quarter ended March 31 dropped to RM138.746mil from RM163.098mil in the previous corresponding quarter. 

However, net profit increased to RM184.956mil from RM130.598mil previously. 

Revenue rose to RM549.061mil from RM517.168mil. 

For the year ended March 31, Petronas Gas reported an increase in pre-tax profit, to RM779.088mil from RM605.616mil while net profit rose to RM656.801mil from RM487.063mil. 

Turnover increased to RM2.23bil from RM1.95bil. 

It proposed a final dividend of 10% tax exempt amounting to RM197.873mil, and a special dividend of 10% tax exempt amounting to RM197.873mil. – Bernama  

RAMATEX BHD'S subsidiaries, Ramatex Textiles Industrial Sdn Bhd (RTI) and Gimmill Industrial (M) Sdn Bhd (Gimmill), have jointly secured a US$100mil syndicated transferable term loan facility for a tenure of five years. 

The loan facility is to be secured against a corporate guarantee of US$100mil from Ramatex, which obtained Bank Negara approval on Thursday. 

The loan is to be used to set up an international procurement centre and for trade financing activities on Malaysian products to Ramatex's overseas subsidiary companies and capital expenditure for RTI and Gimmill. 

The participating banks are Oversea Chinese Banking Corp Ltd, Labuan Branch, The Development Bank Of Singapore Ltd, Labuan Branch, BNP Paribas, Labuan Branch, KBC Bank N.V., Labuan Branch, Maybank International (L) Ltd and The Bank of East Asia Ltd, Labuan Branch. – Bernama 

RELIANCE PACIFIC BHD'S wholly owned subsidiary, Xplonet Capital Sdn Bhd (Xplonet), had entered a sale and purchase agreement with Ingenuity Solutions Bhd (ISB) to sell to ISB its 239,591 ordinary shares of RM1 each in Ingenuity Microsystem Sdn Bhd for RM1.96mil. 

The said sum of RM1.96mil should be satisfied by an allotment and issuance of RM1 each of ISB's 1,960,290 ordinary shares (before share split of the ISB shares). 

Another wholly-owned subsidiary, RPB Capital Holdings Sdn Bhd, entered into a conditional sale and purchase agreement with ISB to sell to ISB its 1.02 million ordinary shares of RM1 each in Reliance Computer Centre Sdn Bhd for RM752,445. 

The said sum should be satisfied by an allotment and issuance of 10 sen each of ISB's 7,524,455 ordinary shares (after share split of the ISB shares). 

These exercise would consolidate RPB's investments on information technology in Malaysia under a proposed IT listed vehicle, namely ISB. – Bernama 

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