News in brief

  • Business
  • Wednesday, 11 Feb 2004

THE public tranche of Kejuruteraan Samudra Timur Bhd (KST)'s initial public offering (IPO) was oversubscribed 76.33 times, MIDF Consultancy and Corporate Services Sdn Bhd (MIDFCCS) said in a statement. 

The company's IPO comprised 10.2 million new shares at RM1.30 each, of which three million were available for public subscription. 

MIDFCCS said that 68,389 applications for 231.98 million shares, valued at RM301.57mil, were received from the public, representing an overall oversubscription rate of 76.33 times. – AFX-Asia 

IRETEX CORP BHD'S public issue of 1.8 million shares was oversubscribed by 55.21 times, attracting 38,502 applications for 101,185,800 shares from the Malaysian public. 

The bumiputra category of 540,000 shares attracted 11,509 applications for 19,075,300 shares, which represent an oversubscription of 34.32 times while the public category of 1.26 million shares received 26,993 applications for 82,110,500 shares or an oversubscription of 64.17 times. – Bernama 

PERUSAHAAN Otomobil Nasional Bhd's (Proton) new model, GEN.2 has received over 5,000 bookings in the first two days of its launch. 

Chief executive officer Tengku Tan Sri Mahaleel Tengku Ariff said in a statement: “They just love it! From the overall styling, the interior, the spaciousness of the cabin and choice of colours being offered to the Campro engine and the Lotus minimalist approach.”  

“From the comments that we are continuing to receive, Malaysian car buyers are beginning to realise that the GEN.2 represents what is essentially the new face of Proton,” he said. 

The GEN.2, powered by a 1600cc Campro engine - the first Malaysian-designed and built engine to be commercialised - is the first of Proton's new generation of vehicles being developed to meet with the challenges of a more liberalised motor vehicle market. – Bernama  

CATHAY Pacific Airways is offering 50% discount on its RM1,388 4-day 3-night Hong Kong Supercity Escapade package for an accompanying traveller at the Malaysia Airlines Travel Fair to be held this weekend. The package included an economy-class ticket, airport transfers, half-day sightseeing and a 10kg excess baggage on the return flight, it said. 

It is also offering a free two nights' stay in Hong Kong to travellers to Los Angeles, San Francisco, Vancouver or London on their return journey, with airfares starting from RM2,488.  

Perusahaan Sadur Timah Malaysia (PERSTIMA) BHD's pre-tax profit for the first nine months ended Dec 31, 2003 increased to RM17.77mil from RM15.4mil in the same period in 2002. 

Net profit also increased to RM12.32mil from RM11.43mil previously. Turnover also jumped to RM251.33mil from RM197.96mil. – Bernama  

Hua Yang Bhd said its net profit for the third quarter to December 2003 rose substantially to RM5.75mil from RM1.07mil a year earlier because of better gross profit margins from development projects and lower costs. 

Sales in the third quarter also improved to RM25.42mil from RM11.4mil a year ago, while pre-tax profit came to RM8.06mil, compared with RM1.85mil previously. 

On a cumulative nine-month basis, net profit was RM12.5mil against RM7.37mil a year ago, while sales stood at RM62.54mil as opposed to RM54.76mil previously. 

It added that its shareholders' funds and net tangible per share stood at RM143.11mil and RM1.46 respectively, at the end of December 2003. – AFX-Asia 




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