News in Brief

  • Business
  • Monday, 27 Oct 2003

  • KUMPULAN EMAS BHD is targeting a 20% growth in after-tax profit for the current year ending July 31, 2004, its chief executive officer Kee Lian Yong said. He said half of the revenue was expected to come from listed associates Salcon Bhd and SEG International Bhd. Last year, Kumpulan Emas after-tax profit came in at RM17.63mil, Kee said at a press conference after the company’s EGM in Subang Jaya on Thursday. 

    The securities of SCK GROUP BHD and TAT SANG HOLDINGS will be removed from the official list of the KLSE today. – Bernama  

  • Puncak Niaga Holdings Bhd has signed a turnkey sub-contract agreement with Imej Warisan Sdn Bhd under which Puncak Niaga is appointed the subcontractor for the Sabah water project in Kota Kinabalu worth RM313.5mil. Puncak Niaga will be responsible for the planning, design, construction, supervision, testing and commissioning of the project. It will finance the working capital via internal funds and borrowings. – Bernama 

  • Wah Seong Corp Bhd
  • said its wholly-owned subsubsidiary, WS International Ventures Inc, has entered into an agreement to dispose of/transfer its 51% capital in Tianjin Fei Ying Site Plastics Construction Material Co Ltd to Tianjin Site Plastics Construction Materials Co Ltd for RMB6.43mil. 

    WS International is an investment holding company.  

    Tianjin Site Plastics is involved in the manufacturing and sale of extrusion materials. 

    Tianjin Fei Ying is involved in the manufacture of plastic extrusion structural materials for doors and window frames. – Bernama

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