News in brief

  • Uchi Technologies Bhd
  • is proposing to split one share of RM1 par value each into five new shares of 20 sen each on a date to be determined later. 

    In a statement, Uchi said the actual number of new ordinary shares to be issued in the proposed split would depend on the issued and paid-up capital of the company on the entitlement date. 

    On completion of the share split, assuming the options had been fully exercised, the issued and paid-up capital would be raised to RM75.59mil, with 377.97 million new shares of 20 sen par each, it said. – AFX 

  • BHD has won a RM49.21mil contract from Perbadanan Putrajaya for the package 4 construction and completion of superstructure works at the proposed Alam Warisan project in Precinct 5 of Putrajaya.  

    In a statement, Road Builder said the project was expected to be completed by June 2005. – AFX 

  • Top Glove Corp Bhd
  • has posted a 57.2% surge in pre-tax profit to RM9.3mil for its fiscal first quarter ended Nov 30, 2003, from RM5.9mil in the previous corresponding quarter, while revenue jumped 59.5% from RM55.1mil to RM87.9mil.  

    Earnings per share rose to 9.29 sen for the quarter compared with 5.57 sen a year earlier. 

  • PLASTRADE Technology Bhd's public issue has been oversubscribed by 229.2 times. 

    The company, en route to a listing on the Mesdaq market, made a public issue of 32.5 million new shares of 10 sen at 30 sen apiece. 

    A statement from Malaysia Issuing House Sdn Bhd (MIH) said Plastrade's public issue involved 1.25 million shares for eligible employees and business associates of the group, 1.563 million shares for public investors, and 29.7 million shares for private placement. 

    MIH said a total of 48,695 applications for 359,807,200 shares were received for the shares offered to the public. – Bernama 

  • Salcon Bhd subsidiary Salcon Water (HK) Ltd has incorporated a joint-venture unit, Shangdong Changle Salcon Water Supply Co (SCSWS), to operate a 50-year concession in Shangdong Province in China. 

    “Salcon Water (HK) Ltd has successfully fulfilled all the conditions required by the relevant China authorities in relation to the incorporation of SCSWS and is now effectively the 75% equity shareholder in SCSWS,” it said. 

    “The remaining equity is held by the Changle County General Water Supply Company,” Salcon said in a statement. 

    SCSWS secured a 50-year concession to build, manage and operate the water production and distribution system including the sale, billing and revenue collection of water in Changle County, Shangdong Province, it said. 

    Salcon said it planned to use its expertise and experience in the water sector to manage and operate the project in China. – AFX  

  • MALAYSIAN OXYGEN BHD (MOX) has entered into a share sale and transfer agreement to buy 520,000 ordinary shares of RM1 each in Dayamox Sdn Bhd, representing 27.37% of the total issued and paid-up capital of Dayamox for RM66,011 cash. 

    Upon completion of the acquisition, Dayamox will become a 67.37%-owned subsidiary of MOX. MOX currently holds 760,000 shares, representing 40% in Dayamox. 

  • has sought Securities Commission approval for an extension until March 31 to complete an investigative audit on its subsidiary, Kuala Lumpur Industries Holdings Bhd. 

    The audit was supposed to be completed by Jan 2. – Bernama 

  • Kim Loong Resources Bhd's pre-tax profit for the first nine months ended Oct 31 increased to RM12.19mil from RM10.59mil in the previous corresponding period.  

    Net profit increased to RM10.03mil from RM7.44mil, while turnover jumped to RM146.14mil from RM103.07mil. – Bernama 

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