News in brief

  • Business
  • Saturday, 25 Oct 2003

FELCRA BHD may be the second government agency, after Felda, to be listed on the KLSE, Rural Deve- lopment Minister Datuk Azmi Khalid said. 

He said many parties, including the government, had proposed that Felcra be listed as it had achieved the standard set for a listing. 

“Felcra is performing well. If it can afford to continue to benefit the targeted group and gain profit, why not let it be listed on the KLSE so that it can spread its wings and not only invest in the country, but also outside?” Azmi said after officiating the seminar on SMI: The engine of growth in Ipoh on Thursday. 

However, Azmi said the listing had yet to be discussed and the ministry had no plan to bring up the matter to the Cabinet. Felda planned to expand the services of its catering subsidiary, D'Saji, to London by April in line with aspirations of Prime Minister Datuk Seri Dr Mahathir Mohamad who wanted Felda to be an international brand, group chairman Tan Sri Dr Mohd Yusof Noor said on Thursday. “With the expansion of D'Saji to London, it would form the basis for our overseas diversification and expansion of Felda activities in line with the wishes of the prime minister.” – Bernama 

Amway (M) Holdings Bhd was noted as one of the key markets of Alticor Inc, which recently announced its worldwide sales of US$4.9bil for its fiscal year ended Aug 31. Altico r is the parent company of Amway Corp, which in turn is the parent company of Amway Malaysia. 

Amway Malaysia managing director Low Han Kee said its performance depended on the perseverance and dedication of its distributors in delivering results. 

Amway Malaysia is expected to release its unaudited year-end results by the end of this month. 

For the first nine months to May 31, Amway Malaysia recorded a higher pre-tax profit of RM60mil with a turnover of RM318.7mil compared with a pre-tax profit of RM54.6mil and revenue of RM281.7mil respectively for the first nine months last year. – Bernama 

Toyo Ink Group Bhd'S public issue of 2 million shares has been oversubscribed by 33.8 times. 

Malaysia Issuing House Sdn Bhd (MIH) said a total of 38,220 applications for 69.6 million shares were received from the public for the 2 million shares available.  

A total of 12,560 applications for 16,239,500 shares were received for the 606,600 shares under the bumiputra category, which represented an over-subscription of 26.07 times. The public portion of 1,415,400 shares attracted 25,660 applications for 53,360,300 shares, giving an over-subscription of 37.11 times, MIH said in a statement. – Bernama  

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