News in brief

  • Business
  • Thursday, 15 Apr 2004

Public Bank Bhd said as at end-March 2004, 38.71% of its shares were held by foreign investors. 

The company said the percentage was computed based on the total number of Public Bank shares in issue, excluding a total of 129.71 million shares bought back and retained as treasury shares. 

It said as the percentage of shares held by foreigners exceeded its maximum foreign shareholding limit of 30%, only 30% held by foreigners would be entitled to all rights and entitlements attached to the shares. 

The remaining 8.71% held by foreigners would be entitled to the rights and entitlements attached to the shares except for voting rights, it added. – AFX-Asia 

A & M REALTY BHD's wholly-owned subsidiary A & M Lifestyle Connections Sdn Bhd will take up a 62% stake in a joint venture to run, operate and manage Vietnamese cuisine restaurants. 

It will partner Hong D Ho and Hong Lan Thi Ta, who will each hold a 19% stake in the joint-venture company named Lancar Abadi Sdn Bhd. 

A & M Realty said the joint venture was a strategic move by the company to diversify its earning base and to widen its range of businesses in the food and beverage industry in Malaysia. – Bernama 

United U-Li Corp Bhd (UUC) has proposed a 1-for-2 bonus issue of 22 million new shares and a 1-into-2 share split.  

UUC also proposed to undertake an employees' share option scheme and amend its memorandum and articles of association.  

It also proposed to increase its authorised capital to RM100mil comprising 200 million sub-divided shares from RM50mil comprising 50 million shares, and transfer its listing to the main board from the second board. – Bernama 


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