News in brief

  • Business
  • Wednesday, 12 Nov 2003

  • 90%-owned unit SKS Power Sdn Bhd has issued the first tranche of its RM5.57bil Istisna medium-term notes. 

    The Istisna bond, which has been rated AA3 by Rating Agency Malaysia Bhd, consists of five tranches, to be issued over a two-year period.  

    SKS has also issued the first tranche, worth RM398.51mil, of redeemable unsecured loan stocks. 

    It said it would issue up to RM1.4bil worth of loan stocks in five tranches over two years to its shareholders, to fund the equity portion of its power plant project. 

    SKS is developing a 2,100MW coal-fired power plant in Tanjung Bin in Johor. – AFX 

  • Digistar Corp Bhd'S
  • wholly-owned subsidiary, Digistar Holdings Sdn Bhd, has yesterday accepted an appointment from Gala Antena Sdn Bhd as a vendor for the automated digital newsroom system integration for the Information Ministry for a total contract value of RM19mil. 

    The completion date of the project is expected to be within four months from the date of appointment. – Bernama 


  • has obtained approval from Bank Negara to begin negotiations with Malaysian Industrial Development Finance Bhd for the sale of Utama Merchant Bank Bhd. 

    The approval is valid till Nov 22. – Bernama 

  • 's net profit for the third quarter ended Sept 30 increased to RM2.94mil from RM686,000 in the preceding year's corresponding quarter while turnover soared to RM37.28mil from RM10.33mil. 

    For the nine months to Sept 30, its net profit rose to RM7.64mil from RM2.67mil in 2002 while turnover jumped to RM82.54mil from RM13.17mil. – Bernama 

  • posted a turnaround for the first quarter ended Sept 30, by securing a net profit of RM2.02mil versus a net loss of RM5.56mil in the 2002 corresponding quarter. 

    Turnover rose to RM17.46mil from RM14 mil previously. – Bernama 

  • Kim Hin Industry Bhd
  • 's net profit for the third quarter ended Sept 30 increased to RM12.34mil from RM7.44mil in the previous corresponding period, as turnover rose to RM69.64mil from RM61.82mil. 

    For the nine months to Sept 30, Kim Hin's net profit was up at RM34.17mil from RM26.57mil in the corresponding period last year. 

    Turnover increased to RM187.96mil from RM172.97mil previously. – Bernama 

  • registered a pre-tax profit of RM6.4mil on revenues of RM17.2mil for its third quarter ended Sept 30, supported by higher home sales at its projects in Penang. 

    For the nine months to Sept 30, the group reported a higher pre-tax profit of RM12.2mil on sales of RM29mil, compared with RM6.3mil on revenues of RM22.1mil previously. 

    The higher revenue and profit posted during the quarter in review were attributed to the launches of Taman Desa Awan and Taman Merak phase 3 projects, the company said in a statement to the KLSE. 


  • Dutch Lady Milk Industries Bhd'S
  • net profit for the third quarter ended Sept 30 fell to RM3.61mil from RM4.26mil in the previous corresponding quarter.  

    Its turnover improved marginally to RM97.80mil from RM97.55mil. 

    For the nine months ended Sept 30, its net profit rose to RM8.3mil from RM7.01mil before, while its turnover increased to RM285.71mil from RM276.08mil. – Bernama 

  • net profit for the third quarter ended Sept 30 increased to RM757,000 from RM544,000 in the previous corresponding period.  

    Its turnover rose to RM36.26mil from RM23.53mil. 

    For the nine months ended Sept 30, its net profit increased to RM2.15mil, a turnaround from net loss of RM2.37mil previously. Its turnover increased to RM109.27mil from RM33.87mil. – Bernama  

  • net profit for the third quarter ended Sept 30 dropped to RM7.55mil from RM8.24mil in the previous corresponding quarter as turnover fell to RM70.94mil from RM71.43mil. 

    For the nine months ended Sept 30, its net profit rose to RM6.72mil from RM2.41mil previously, while turnover increased to RM178.03mil from RM172.58mil. – Bernama 

  • Kretam Holdings Bhd
  • has posted a turnaround for the third quarter ended Sept 30, with a net profit of RM103.50mil compared with a net loss of RM7.12mil in the previous corresponding quarter. 

    Its turnover rose to RM19.69mil from RM14.01mil. 

    For the nine months to Sept 30, it registered a net profit of RM90.80mil compared with a net loss of RM18.10mil previously. 

    Its turnover rose to RM46.96mil from RM40.93mil. – Bernama 

  • net profit for the third quarter ended Sept 30 increased to RM40.54mil from RM25.49mil in the previous corresponding period as its turnover rose to RM125.71mil from RM110.46mil. 

    For the nine months ended Sept 30, its net profit increased to RM107.15mil from RM63.90mil previously. 

    Its turnover increased to RM332.72mil from RM274.67mil. 

    The higher profit was attributed to higher production and better palm prices. 

    PPB said its crop production for this year was expected to exceed last year's level and at current price levels, profits were expected to be higher. – Bernama 


  • said its wholly-owned unit Golden Hope Development Sdn Bhd has entered into an agreement with Seri Tasik Semenyih Sdn Bhd to jointly develop 100 acres of land in Semenyih, Ulu Langat, in Selangor. 

    Golden Hope will contribute the land for the development, which will comprise residential and commercial properties. – AFX 

  • KSL Holdings Bhd’S
  • additional 66.37 million shares, arising from its one-for-three bonus issue, will list on the KLSE today, a KLSE circular said. – AFX 

    AVENUE ASSETS BHD said with effect from Nov 7, it has changed its name to Avenue Capital Resources Bhd. – AFX 

  • Yinson Holdings Bhd’S
  • additional 11.88 million new shares, arising from the company’s 3-for-5 bonus issue, will be listed on the KLSE on Nov 13, a KLSE circular said. – AFX 

  • net profit for the first quarter ended Sept 30 fell to RM1.21mil from RM1.38mil in the previous corresponding quarter.  

    Its turnover increased to RM56.13mil from RM39.45mil. – Bernama 

  • RHB
  • Sakura Merchant Bankers Bhd, on behalf of L&M CORP (M) BHD, has submitted an application to the Securities Commission for an extension to complete L&M's proposed corporate and debt restructuring. 

    The application is for an extension of two months to Jan 23, 2004. – Bernama 

  • will list an additional 22.5 million shares arising from its five-for-four bonus issue on the KLSE today, a KLSE circular said. – AFX 

  • (SATS) expects passenger numbers at Sultan Ismail Airport in Senai (popularly known as Senai Airport) to grow 50% from the current annual count of 1 million by June next year. 

    SATS said the initial jump to 1.5 million passengers by mid-2004 would be due to its plans to sharply increase the airport's usage through more deals after its new partnership with discount airline AirAsia and national carrier Malaysia Airlines. 

    AirAsia commenced flight operations from Senai Airport last month. 

    The airline is using the airport as its designated southern hub, ferrying passengers from Johor and Singapore to destinations in Malaysia and, later to other stops in the region. 

    SATS' expansion plans to cater to traffic growth include increasing Senai Airport's car parking lots from the current 400 to 1, 200. – AFX 

  • Bintulu Port Holdings Bhd
  • has been given a further extension until end-2003 to comply with the 25% minimum public shareholding spread requirement. 

    In a statement, Bintulu Port said its public shareholding spread stood at 24.42% as of Oct 30. – AFX 

  • unit Naim Cendera Sdn Bhd (NCSB) has received letters of intent from the human resources ministry for the construction of an industrial training institute in Miri, Sarawak, and to supply machinery.  

    The contracts are estimated to be worth RM180mil.  

    As part of the deal, NCSB had to sell for RM24.83mil a 24.28ha plot of land for the building site, with part of the proceeds to be used to build basic infrastructure of the institute, Naim Cendera said in a statement. – AFX 

  • has secured a RM22mil contract from Time Systems Integrators Sdn Bhd for the supply of over 5,000 Palette Centrino wireless notebooks to be used as teaching aid under the Science and Mathematics in English programme by schools, a company statement said. – AFX 

  • United Malacca Bhd
  • has agreed to buy Syarikat Penanaman Bukit Senorang Sdn Bhd for RM49.6mil and South East Pahang Oil Palm Bhd for RM38.4mil from Nam Bee Co Sdn Bhd and other individuals. – AFX  

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