News in brief


  • Business
  • Wednesday, 29 Oct 2003

TT RESOURCES BHD’S net loss for the nine months ended Sept 30, increased to RM19.63mil from RM5.73mil in the previous corresponding period. Revenue rose to RM109.80mil from RM100.95mil. 

For the third quarter ended Sept 30, net loss was higher at RM9.88mil from RM2.75mil although revenue improved to RM36.57mil from RM34.23mil. – Bernama 

GOLDEN HOPE PLANTATIONS BHD'S wholly-owned subsidiary Golden Hope Deve- lopment Sdn Bhd has proposed to dispose of 93.72 acres of land, which is part of the Strathisla Estate in Hulu Kinta, Perak, for RM9.19mil to Perak Corp Bhd

The proposed disposal is in line with Golden Hope group’s existing strategies to sell certain se- lected land to speed up property development activities in its land bank and generate cash to fund its property development expenditures in existing and new projects. – Bernama 

APL INDUSTRIES BHD’S net profit for the first quarter ended Sept 30, increased to RM4.25mil from RM770,000 in the previous corresponding quarter. The revenue rose to RM44.17mil from RM31.06mil. – Bernama 

TRC Synergy Bhd'S wholly-owned subsidiary Trans Re- sources Corp Sdn Bhd (TRC) has secured the project for the design, construction, installation, completion, testing and commissioning of the upgrading of Sibu Airport, Sarawak, for RM60.34mil from the Transport Ministry. 

TRC has also been awarded a RM3.59mil contract for the proposed development of racing tracks and ancillary structure in Kuala Langat, Selangor, by Subur Ehsan Sdn Bhd. – Bernama 

PARK MAY BHD has signed a conditional asset sale and purchase agreement to sell 364 buses owned by two subsidiaries to Syarikat Prasarana Negara Bhd for RM14.84mil cash. 

Of the total, 321 are Cityliner Sdn Bhd buses and 43 are owned by Len Chee Omnibus Co Sdn Bhd. 

Park May had agreed to issue a corporate guarantee, undertaking and indemnity to Syarikat Prasarana, subject to the approval of its shareholders, a company statement said. 

The disposal of the entire bus fleet of the two units is expected to result in a net loss on disposal of about RM17.43mil for Park May. 

The bulk of the proceeds will be used by Park May to partly redeem the outstanding amount of RM115mil on its commercial paper and medium-term notes programme. 

Park May expects to save about RM807,000 in annual interest expenses. 

Syarikat Prasana, a wholly-owned unit of Ministry of Finance Inc, is the operator of the Star and Putra light rail transit services. – AFX 

JOTECH HOLDINGS BHD'S net profit for the nine months ended Sept 30 increased to RM5.79mil from RM2.75mil in the corresponding period of the previous year. Revenue rose to RM79.82mil from RM65.91mil. 

For the third quarter ended Sept 30, its net profit rose to RM2.74mil from RM1.64mil and the revenue improved to RM37.87mil from RM27.63mil. – Bernama  

DUNHAM-BUSH MALAYSIA BHD has received an extension of six months to April 23, 2004 to comply with the KLSE’s minimum 25% public shareholding requirement. 

Dunham-Bush said in a statement its public shareholding as of June 30 was 24.01%. 

It noted that parent Cosway Corp Bhd announced earlier its intention to realise all or a substantial portion of its shareholding in Dunham-Bush and added that its public spread may improve as a result. – AFX 

Ekovest Bhd’S net profit for the first quarter ended Sept 30 increased to RM3.46mil from RM1.58mil in the previous corresponding quarter. Revenue rose to RM86.11mil from RM40.19mil. – Bernama 

Protasco Bhd said Kuala Lumpur Infrastructure University College (KLIUC) had on Oct 25 entered into a memorandum of understanding (MOU) with Tongji University in Shanghai, China. 

KLIUC is managed by Ikram Education Sdn Bhd, a wholly-owned unit of Kumpulan Ikram Sdn Bhd, which in turn is a wholly-owned unit of Protasco. 

The MOU provided for consultancy services by Tongji University to KLIUC regarding curriculum design and other related academic affairs; attachment of academic staff and students from KLIUC at Tongji University, and collaboration with Tongji University in education courses at various levels at KLIUC. – Bernama 

DUNHAM-BUSH MALAYSIA BHD has received an extension of six months to April 23, 2004 to comply with the KLSE’s minimum 25% public shareholding requirement. 

Dunham-Bush said in a statement its public shareholding as of June 30 was 24.01%. 

It noted that parent Cosway Corp Bhd announced earlier its intention to realise all or a substantial portion of its shareholding in Dunham-Bush and added that its public spread may improve as a result. – AFX 

EKOVEST BHD’S net profit for the first quarter ended Sept 30 increased to RM3.46mil from RM1.58mil in the previous corresponding quarter. Revenue rose to RM86.11mil from RM40.19mil. – Bernama 

PROTASCO BHD said Kuala Lumpur Infrastructure University College (KLIUC) had on Oct 25 entered into a memorandum of understanding (MOU)with Tongji University in Shanghai, China. 

KLIUC is managed by Ikram Education Sdn Bhd, a wholly-owned subsidiary of Kumpulan Ikram Sdn Bhd, which in turn is a wholly-owned subsidiary of Protasco. 

The MOU provided for consultancy services by Tongji University to KLIUC regarding curriculum design and other related academic affairs; attachment of academic staff and students from KLIUC at Tongji University, and collaboration with Tongji University in education courses at various levels at KLIUC. – Bernama 

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