News in brief

A CONSORTIUM comprising Hock Seng Lee Bhd, Rheinhold & Mahla (M) Sdn Bhd and Juara Beetuah Sdn Bhd has been awarded a RM102mil contract to build the second phase of the integrated deep-sea fishing port at Tanjung Manis, Sarawak. 

Hock Seng Lee has an 85% stake in the consortium, Rheinhold 10% and Juara Beetuah 5%. 

In a statement, construction firm Hock Seng Lee said the scope of work included construction of the port buildings as well as associated mechanical and electrical works. 

The job is to be completed within 15 months of Dec 15. – AFX-Asia 

MALAYSIAN RESOURCES CORP BHD (MRCB) announced that the Department of Irrigation and Drainage has awarded the pilot beach rehabilitation project at Teluk Cempedak, Pahang, to MRCB Environment Sdn Bhd at a total contract price of RM15.4mil. 

MRCB Environment is a joint venture between MRCB unit MRCB Environmental Services Sdn Bhd, Saluran Teraju Sdn Bhd and Everlasting Sparkle Sdn Bhd.  

YCS CORP BHD

has reported a reduced pre-tax loss to RM11.50mil for the first quarter ended Sept 30 compared with a pre-tax loss of RM12.79mil registered in the previous corresponding period.  

Its turnover was at RM2.33mil against RM930,000 previously. – Bernama 

MALAYSIAN MOSAICS BHD

reported a pre-tax profit of RM55.02mil for the third quarter ended Oct 31 compared with a pre-tax profit of RM50.32mil in the same period last year. 

Turnover was higher at RM300.83mil from RM256.05mil previously. – Bernama 

PINWEE GROUP BHD

said its wholly-owned unit PinWee Farming Sdn Bhd has exercised an option issued by the shareholders of Evergreen Farm Sdn Bhd and DiHin Farm Sdn Bhd to purchase 70% of the issued and paid-up share capital of the said companies for RM14mil. – Bernama 

THE public tranche of KBES BHD'S initial public offering (IPO) shares were oversubscribed 47.67 times and the portion allocated for placement was also fully taken up, Malaysian Issuing House Sdn Bhd (MIH) said in a statement. 

The express bus operator's IPO comprised a public issue of 24.55 million new shares and an offer for sale of 9 million shares at 75 sen per share. 

Of the total shares, 4 million were reserved for employees, 25.55 million for placement to institutional investors and 4 million for public subscription. 

MIH said 62,990 applications for 194.67 million shares were received for the 4 million shares made available for public subscription. – AFX 

MAXIS COMMUNICATION BHD

has chalked up another first in the industry by introducing Maxis' Festive Video Greetings via multimedia messaging service (MMS). 

The latest in the range of its mobile data services, the MMS greeting allows customers to send moving pictures and true sound quality video greeting cards, similar to cards quality, to their friends and family, locally and internationally to Singapore, Hong Kong and the Philippines. – Bernama 

MOL.com Bhd

said the public tranche of the initial public offering (IPO) shares for its unit MOL Accessportal Bhd, was oversubscribed by 99.7%. 

In a statement, MOL.com said of the total number of MOL Accessportal IPO shares, 4 million were available to entitled MOL.com shareholders, 1 million for employees and 3 million for placement to selected investors. 

MOL.com said a total of 607 applications for 7.99 million shares were received from entitled MOL.com shareholders.  

The private placement was also fully taken up, it said. 

MOL Accessportal, which specialises in Internet media and e-commerce operations, is seeking a listing on the Mesdaq market. – AFX 

 

Hock Seng Lee has an 85% stake in the consortium, Rheinhold 10% and Juara Beetuah 5%.