News in brief

Bumi Armada NAVIGATION SDN BHD'S RM80mil Murabahah notes issuance Facility (Munif) and its Islamic medium term notes (Imtin) between 2000 and 2005 were reaffirmed by Malaysian Rating Corp Bhd at MARC1/AAID today. – Bernama 

FOURSEASON (M) BHD an- nounced today that it will be changing its name to lli Multi Corp Bhd and its stock short name from FourSSN to Welli with effect from July 17, 2003, at 9am. The company's stock number remains unchanged. – Bernama 

Landmarks Land & Properties Sdn Bhd, a 70% owned subsidiary of Landmarks Bhd, has forged a joint venture with Hedgeford Sdn Bhd to jointly develop 1.948ha of land in Setapak, Kuala Lumpur. 

Landmarks said in a statement Landmarks Land also agreed to sell to Hedgeford a piece of 0.66ha land located in Setapak. 

UPA Corp Bhd said it has gained the Securities Commission's approval to transfer the listing of its shares to the KLSE main board from the second board. 

No other details were given. – AFX 

MAXIS Communications Bhd said US-based Capital Group of Companies Inc has emerged as a substantial shareholder of the company via the acquisition of 127.914 mil shares, or a 5.22 pct stake, at undisclosed prices on July 9. 

No other details were given in the statement to the KLSE. – AFX 

Prestar Resources Bhd said it has won the Securities Commission's (SC) approval to propose a one-for-one bonus issue and to transfer its shares from the KLSE second board to the main board. 

The company said in a statement the SC also approved its proposal to raise authorised share capital to RM200mil from RM100mil presently. 

Prestar said the bonus issue would be capitalised via its retained earnings and share premium accounts. – AFX 

HUME INDUSTRIES (M) BHD had on July 11 disposed of 59,000 RM1 shares, representing 0.04% of the issued and paid-up capital of OLY Industries Sdn Bhd, for RM1.53mil cash.  

The disposal would enable Hume to realise funds for its core business, it told the KLSE. It will result in a gain of RM1.08mil at the group level. – Bernama 

UMW Holdings Bhd said in a statement that it had obtained approval from the Securities Commission for its proposed 2-for-3 bonus issue. – AFX

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