News in brief

  • Business
  • Wednesday, 24 Sep 2003

MALAYSIAN AIRLINE SYSTEM BHD said it has secured a deal to operate the Haj charter flights for Lembaga Tabung Haji.  

In a statement, Malaysia Airlines said the deal would be signed tomorrow. 

Malaysia Airlines is expected to be represented by managing director Md Nor Yusof, while Lembaga Tabung Haji will be represented by its group managing director and chief executive officer Mohd Bakke Salleh. No other details on the contract were given. – AFX 

Ken Holdings Bhd said Hong Kong-based unit Kenly (HK) Ltd has secured a HK$23.3mil contract to undertake slope works in Hong Kong. 

The contract was awarded by MBH Joint Venture, comprising Maeda Corp, Barbican Construction Co Ltd and Hsin Chong Construction Co Ltd. The contract works involve geo-technical and slope stabilisation works and cover a total of 22 slopes along some four kilometers of the new proposed highway T3, linking Tai Po Road to Sha Tin. 

Works should take 18 months and is due to be completed by early 2005, the company said. 

Ken Holdings’s wholly-owned unit, Support Capital Sdn Bhd, controls 57.60% stake in Kenly. – AFX  

Oriental Holdings Bhd (OHB) said the group, via its subsidiary, Oriental Boon Siew (Mauritius) Pte Ltd (owned 50.5 :49.5 by OHB and Boon Siew Sdn Bhd respectively), planned to advance US$9mil (RM34.2mil) to two sub-subsidiary companies in Indo-nesia, namely, PT Gunung Maras Lestari and PT Gunungsawit Binalestari, to reduce their bank borrowings. – Bernama 

PETRA PERDANA BHD said Petra Resources Sdn Bhd, a wholly-owned subsidiary, had on Sept 22 entered into an agreement to dispose of two vacant pieces of land in Damansara to Majestic Oxygen Industry Sdn Bhd for RM3.459mil.  

The sale proceeds would be used to repay bank borrowings. – Bernama 

Gopeng Bhd has informed the KLSE to acquire 217.158 million RM1 shares representing the remaining 64.84% of Perak Hanjong Sdn Bhd (PH) from the vendor of PH for a purchase consideration of approximately RM152.011mil to be satisfied by the issuance of 304.021 million 50 sen each in Gopeng. 

If the offer is accepted by all vendors, the proposed acquisition would result in PH becoming a wholly-owned subsidiary of Gopeng and is anticipated to contribute significantly to the future earnings of Gopeng. – Bernama 

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