News in brief


  • Business
  • Saturday, 06 Dec 2003

  • Globetronics Technology Bhd has proposed a bonus issue of up to 11.92 million shares on the basis of one new share for every 10 shares held. 

    The company also said it planned a share split into 10 new shares of 10 sen par value each of every one share of RM1 held after the implementation of the bonus issue. 

    Globetronics’ capital will comprise up to 1.31 billion shares of 10 sen par value after completion of the bonus issue and share split and on taking into consideration its proposed new share option scheme for employees. – AFX 

  • SRII BHD has proposed a bonus issue of 16.48 million shares on a 3-for-8 basis and the transfer of its listed status from the KLSE second board to the main board. 

    The bonus issue would enable SRII to increase its paid-up capital to comply with the minimum requirement of RM60mil for main board companies, it added. – AFX 

  • NV MULTI CORP BHD proposes to issue RM100mil worth of commercial paper/medium-term notes. 

    Proceeds would be used to repay bank borrowings and for working capital requirements, the company said in a statement. – AFX 

  • AKTIF LIFESTYLE CORP BHD has been given a 14-day extension by the KLSE to submit its regularisation plan for approval. 

    The KLSE had in October commenced de-listing procedures against Aktif, a PN4 company. The exchange said it decided to grant Aktif an extension after considering its Nov 3 announcement that it proposed to sell its unit Aktif Lifestyle Stores Sdn Bhd. – AFX  

     

  • SAPURA TELECOMMUNICATIONS BHD and FUJITSU (M) SDN BHD have signed a memorandum of understanding to form a strategic alliance to explore business opportunities. 

    In a statement, Sapura said the alliance, which would combine the two companies' marketing and corporate strengths, would seek to provide solutions and/or products to Malaysia and international markets such as Japan. – AFX 

  • UNIMECH GROUP BHD has subscribed to shares representing a 51% stake in Unimech Engineering (Korea) Ltd (UME Korea) for 50 million won. A Unimech statement said the investment was in line with the company's diversification into South Korea. 

    UME Korea is involved in the design, fabrication and installation of fluid control systems for the water, petrochemicals and oil and gas industries. – AFX 

  • Gadang Holdings Bhd said GLP Manufacturing (M) Sdn Bhd, which is wholly owned by Gadang's 70% unit Globe Leigh's Paint (M) Sdn Bhd, has signed an agreement to buy a factory, land and equipment from MFRP Engineering Sdn Bhd for RM3mil cash. 

    GLP (formerly known as Topline Theme Sdn Bhd) chiefly makes and trades in decorative and protective coatings and currently employs MFRP as toll manufacturer for its products. 

    As such, Gadang said, the acquisition of MFRP assets would enable GLP to gain synergistic benefits by having full access to and control of the manufacturing plant. – Bernama 

     

  • Telekom Malaysia Bhd has no plans to raise its 15% stake in Measat Global Bhd, said chief executive Md Khir Abdul Rahman.  

    “We are happy with 15% and have no plans to increase the stake at this point in time,” he said when asked to comment on market speculation that the telecommunication company was likely to raise the stake to 20% for equity accounting purposes. – AFX  

  • MUTIARA GOODYEAR DEVELOPMENT BHD said Puncak Kencana Sdn Bhd, a wholly-owned subsidiary of Mutiara, has signed an agreement with Regal Crest (M) Sdn Bhd in liquidation (the vendor) and Jerah Bina Sdn Bhd (the proprietor) for the proposed acquisition of two pieces of land in Kuala Lumpur for a total cash consideration of RM15mil. – Bernama 

  • PCCS Group Bhd announced it has signed an agreement with Tex Line Pte Ltd for the disposal of PCCS’ entire investment in Tex Line Associates Pte Ltd, representing 45% of the issued and paid-up capital of Tex Line Associates, for a total cash consideration of S$7.462mil. – Bernama  

  • MATRIX INTERNATIONAL BHD has posted a higher pre-tax profit of RM4.79mil in the second quarter ended Oct 31, compared with RM4.59mil in the same period last year. 

    However, its revenue declined to RM43.06mil from RM49.52mil previously. 

    For the six months ended Oct 31, it registered a lower pre-tax profit of RM7.20mil compared with RM9.88mil previously.  

    Its revenue dropped to RM84.42mil from RM111.86mil. – Bernama 

  • ASIA UNIT TRUSTS BHD (AUTB), a member of the Amanah Capital group, has declared a gross distribution of 2 sen cash payout or 4.4% for unit holders of its AUTB Bond Fund (ABF) for the financial year ended Nov 15, 2003. 

    A statement from the company said all registered ABF unitholders as at Nov 15 were eligible for the payout. – Bernama 

  • SBB MUTUAL BHD has declared a gross distribution of 8 sen per unit for unitholders of SBB Retirement Balance Fund, the company said in a statement. 

    The distribution was made available to existing unitholders and all new investors who purchased units of the funds no later than 5pm on or before Dec 4, it said. – Bernama 

  • PHILIP MUTUAL BHD has declared its third monthly distribution of 2.5% per annum for unitholders of the Philip Master Money Market Fund registered as at Nov 30. 

    The distribution reflects Pacific Mutual’s persistence and consistency as a net distribution of 2.5% is more competitive than conventional deposit with financial institutions where interest income is subject to corporate tax. 

    The money market fund, which offers preservation of capital whereby the price is fixed at 50 sen at all times, is the best solution for individuals with idle cash and institutions which want to outsource their treasury function. – Bernama 

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