Telekom Malaysia Bhd
is looking at the possibility of acquiring a stake in Indian mobile operator Idea Cellular Ltd, chief executive Datuk Md Khir Abdul Rahman said.
“This is one of the potential operations that Telekom is looking at,” he told AFX-Asia when asked to comment on a report that the company was interested in buying AT&T Wireless Services Inc's 33.3% stake in Idea Cellular. It has been reported that expressions of interest for the stake sale are likely to be invited by the end of this month.
Idea Cellular is India's fifth largest mobile operator in which the Tata Group and Birla Group also hold a 33.3% stakes each. – AFX-Asia
Transmile Group Bhd yesterday appointed 2 new directors linked to Tan Sri Robert Kuok to replace outgoing directors Gan Eu Jin and Raja Zulkifli Raja Ahmad.
Trinity Coral Sdn Bhd, owned by the Kuok family, became Transmile's single largest shareholder on March 25 when it acquired a 28.5% stake in the company from its chairman and chief executive officer Gan Boon Aun and director Khiudin Mohd.
In filings to Bursa Malaysia yesterday, Transmile said the new directors were Kuok Khoo Ho, chairman of Kuok Brothers Sdn Bhd, and Terence Khoo Boo Kheng, managing director of Kuok-controlled Kerry Asset Management Limited.
Pensonic Holdings Bhd has reported a higher pre-tax profit of RM2.33mil for the nine months to Feb 29, against RM1.18mil in the corresponding period ended Feb 28 last year.
Its revenue was also higher at RM108.87mil compared with RM90.95mil previously. – Bernama
METAL RECLAMATION BHD has registered a higher pre-tax profit of RM4.38mil for its financial year ended March 31, versus a pre-tax profit loss of RM16.72mil a year ago.
The group also posted higher revenue of RM122.42mil against RM95.91mil previously. – Bernama
MALAYSIAN MERCHANT MARINE BHD will go “ex” on May 6 for entitlement to the shipping company's proposed bonus issue of up to 14.02 million Islamic preference shares (IPS) on the basis of one IPS for every 10 shares held.
The IPS, which are unsecured, will rank ahead of MMM's other classes of shares but behind the debt of the shipping company.
The IPS are entitled to a fixed non-cumulative preferential dividend of at least 20% above the dividend declared for holders of ordinary shares for that same year. – AFX-Asia
LOH & LOH CORP BHD has awarded a RM4.2mil interior design sub-contract to POHMAY HOLDINGS BHD.
Loh & Loh said in a statement the sub-contract to supply and install built-in and loss furniture works was part of the RM67.29mil project to build a school secured from Perbadanan Putrajaya.
Pohmay is expected to complete the interior work before Oct 1 this year. – AFX-Asia
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