(HLB) has been granted a banking licence by the Hong Kong Monetary Authority to carry out banking business in the territory. HLB said in a statement that preparations were under way to open a branch office in Hong Kong by the second half this year. – Bernama
unit Bintulu Lumber Development Sdn Bhd has entered into two separate agreements to acquire oil palm plantation land in Miri, Sarawak, for a total RM62mil. The agreement with Hazelland Sdn Bhd was on the purchase of 5,483ha for RM35.4mil and the second with Merak Murni Sdn Bhd for 4,730ha for RM26.6mil, BLD Plantation said in a statement. – Bernama
Squatters were currently occupying the freehold agricultural land, the company said.
The deal is expected to be completed in the second quarter this year.
The land was acquired by Petaling Garden in 1961 at RM91,337 and based on the audited accounts for the financial year ended Dec 31, 2002, the net book value of the land was RM91,337.
If completed, the sale is expected to generate a net profit on disposal (after tax) of RM2.8mil. The impact of the disposal on the earnings and net tangible assets will be approximately 0.74 sen per Petaling Garden share. – Bernama
CBS group chief executive officer C.K. Sun said in a statement the firm would be ready to list within the first six months this year.
CBS's principal activities include software development, capacity planning, system and operational consulting, system integration, sales and distribution software, marketing of software solutions and application interfaces. – Bernama
HLB said in a statement that preparations were under way to open a branch office in Hong Kong by the second half this year. – Bernama
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