News in brief

  • Business
  • Thursday, 17 Jul 2003

Cahya Mata Sarawak Bhd said its unit PPES WORKS (SARAWAK) SDN BHD has been awarded a RM20.76mil contract by Assar Chemicals Sdn Bhd for its independent oil terminal project in Sarawak. – AFX 

GRANITE INDUSTRIES BHD said it has changed its name to TEBRAU TEGUH BHD. 

The company said the name change follows the issue of the certificate of incorporation on change of name of company by the Registrar of Companies on July 10.– AFX 

DKLS VENTURE SDN BHD's (DVSB) wholly-owned subsidiary, Zhangzhou Jinfeng Water Works Co Ltd, has entered into an agreement with the People's Government of Chihu, Zhangpu District, China to construct a water treatment plant costing RM15mil and given a 50-year concession to supply treated water in Chihu. DVSB is an associate company of DKLS Industries Bhd. – Bernama 

SOUTHERN BANK BHD said Singapore-based OVERSEAS CHINESE BANKING CORP LTD (OCBC) has ceased to be a substantial shareholder of the company.  

In a statement, Southern Bank said OCBC sold 28.993 million shares at undisclosed prices on July 10. – AFX 

PBA Holdings Bhd's associated company, Pinang Water Ltd, has on July 13 entered into two waterworks related contracts with Yi Chun City Government, Xiangji Province China, for the construction of a 100,000 m3/day water treatment plant. 

PBA said that the two contracts are built, operate and transfer (BOT) agreement and sales of water agreement both for a fixed aggregate period of 29 years from the practical completion date of the project (i.e) one year from the date of signing of the agreements. 

PBA said that the water treatment plant, which will be known as “Yi Chun Yuan Her Water Treatment Plant,” will be initially funded via capital injection by shareholders of Pinang Water and Credit Terms from the equipment suppliers. – Bernama 

Paragon Union Bhd’s (PUB) proposed extension by an additional 6 months until Jan 17, 2004, for the private placement of 7 million new ordinary shares in PUB representing 10% of its paid-up share capital has been approved by the Securities Commission. – Bernama 

Delloyd Management Services (M) Sdn Bhd (DMSSB), a wholly-owned subsidiary of Delloyd Ventures Bhd, disposed of 60% stake in Hextar Chemicals Sdn Bhd, comprising 3 million ordinary shares, for RM6mil cash to Binapuri Lestari Sdn Bhd yesterday.  

Binapuri would pay a 10% deposit to DMSSB upon signing the agreement and the balance of RM5.4mil would be paid before Nov 30, 2003, the company said in a statement. – Bernama 

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