News in brief

KL INFRASTRUCTURE GROUP BHD is to acquire a 70% stake each in Mutiara Pahim Sdn Bhd (MP) and Mekar Express Sdn Bhd (ME) for RM4.26mil and RM2.38mil respectively. 

The company said yesterday it would also be acquiring an additional 28.1% equity interest in Ballan Sdn Bhd for RM1.16mil which would raise its stake in the latter to 70%.  

MP's business is the provision of factory and express bus services while ME's and Ballan's principal businesses are the provision of public transport such as express bus services. 

The acquisition of the stake in MP would be satisfied by 6.554 million 50 sen ordinary shares of KL Infrastructure held by MTrans Holdings Sdn Bhd, a substanstial shareholder of the company, at 65 sen per share. 

The ME and Ballan acquisitions would be satisfied by 3.660 million and 1.786 million 50 sen ordinary shares respectively in KL Infrastructure held by MTrans Holdings, also at 65 sen per share. – Bernama 

LINEAR CORP BHD has announced that its 26%-owned associate company, The Media Shoppe Bhd, has applied for a listing on the Mesdaq market of Bursa Malaysia. – Bernama  

MERGE HOUSING BHD has posted a rise in unaudited pre-tax profit to RM13.06mil for the nine months ended Feb 29, from RM1.11mil in the previous corresponding period.  

Its revenue for the first three quarters doubled to RM100.18mil from RM50.28mil previously. – Bernama 

PRINSIPTEK Corp Bhd's wholly-owned subsidiary Prinsiptek (M) Sdn Bhd has won an RM80mil contract from Green Crescent Resources Sdn Bhd for the rehabilitation, construction, management, sales and marketing of an abandoned mixed development project. 

In a statement the company said the project at Serdang Perdana, Selangor, involved shops, shop apartments, medium-cost apartments, service apartments and low-cost apartments. 

Construction of the project was expected to take 3 years, it added. – AFX-Asia 

Hap Seng Consolidated Bhd has sold its entire 29.44 million shares or 12.1% of Lam Soon (Hong Kong) Ltd for HK$73.34mil. 

In a statement, the company said the sale was transacted through the Stock Exchange of Hong Kong. No other details were given. – AFX-Asia 

Chin Well Holdings Bhd said its third quarter to February 2004 net profit rose more than 100% to RM7.66mil from RM3.41mil a year ago on higher sales. 

The company said yesterday it would also be acquiring an additional 28.1% equity interest in Ballan Sdn Bhd for RM1.16mil which would raise its stake in the latter to 70%.