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
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
Proceeds would be used to repay bank borrowings and for working capital requirements, the company said in a statement. – AFX
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
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
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
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
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
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 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
A statement from the company said all registered ABF unitholders as at Nov 15 were eligible for the payout. – Bernama
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
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
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.
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