News in brief

ROYAL Dutch/Shell Group said Shell Egypt and partners Petronas Carigali Overseas Sdn Bhd and the Egyptian Natural Gas Holding Co succeeded in making 2 hydrocarbon discoveries in their offshore concession in the Mediterranean. 

The partnership completed a three-well, ultra-deepwater drilling campaign in the North East Medi- terranean Deepwater Concession, drilling in more than 2,400m of water. 

Shell Egypt and Petronas Carigali will now enter a 4-year second exploration phase as part of plans to commercialise the finds. 

“The drilling results have demonstrated that the ultra-deepwater area is a rich hydrocarbon province,” said Matthias Bichsel, Shell's global exploration director.  

“The priorities now are to commercialise the discoveries as rapidly as possible.” – AFX-Asia 

JOTECH HOLDINGS BHD has announced that it was proposing a 1-for-2 bonus issue of up to 22 million new shares. 

The company also intended to transfer its listing status to the MSEB main board from the second board currently. – AFX-Asia  

THE Employees Provident Fund (EPF) has bought a 5.02% stake in Petra Perdana Bhd.  

In a company filing to MSEB, Petra Perdana said the EPF became a substantial shareholder in the company after it acquired 3.086 million Petra Perdana shares on Feb 6, via several purchases in the open market. – AFX-Asia 

HLG CAPITAL BHD has posted a pre-tax profit of RM6.88mil in the second quarter ended Dec 31, 2003 compared with a pre-tax loss of RM18.99mil in the previous corresponding period.  

Revenue increased to RM20.23mil from RM11.29mil. 

For the six months to Dec 31, it registered a pre-tax loss of RM18.25mil compared with RM22.52mil previously. Revenue rose to RM43.03mil from RM25.1mil. – Bernama 

Pintaras Jaya Bhd has reported a lower unaudited pre-tax profit of RM6.99mil for the six months ended Dec 31, 2003 from RM7.15mil in the previous corresponding period. 

The revenue was higher at RM47.89mil from RM23.33mil previously. – Bernama 

HARBOURLINK GROUP has registered an unaudited pre-tax profit of RM192,000 for the three months ended Dec 31, 2003. Turnover for the period stood at RM2.45mil. – Bernama 

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