News in brief

MALAKOFF BHD said its second quarter to February net profit rose 9% to RM129.33mil, mainly due to the contribution from Prai Power Sdn Bhd upon completion of its acquisition in the second quarter as well as the recognition of the contribution of an associated company, Lekir Bulk Terminal Sdn Bhd. 

Sales for the quarter came to RM492.52mil from RM491.94mil a year ago, while pre tax profit stood at RM216.29mil against RM193.08mil previously. 

On a cumulative basis, net profit for the first half came to RM225.38mil compared to RM203.88mil in the same period last year. – AFX-Asia 

TRANSMILE GROUP BHD has appointed Datuk Seri Dr Ling Liong Sik as its independent and non-executive chairman.  

Dr Ling, 60, was the former Transport Minister and currently the chairman of Universiti Tunku Abdul Rahman Council.  

Meanwhile, Gan Boon Aun, 43, has been appointed director and chief executive officer of the group. Before this, Gan was the chairman and executive director of Transmile Group. – Bernama 

Wah Seong Corporation Bhd has signed a sale and purchase agreement with its wholly-owned subsidiary, PMT Industries Sdn Bhd, to inter alia, dispose of a 0.73452ha piece of land in Klang, Selangor to PMT for RM3.09mil. – Bernama 

K&N KENANGA HOLDINGS BHD's wholly-owned subsidiary, Kenanga Capital Sdn Bhd, has incorporated a new company under the Offshore Companies Act 1990, known as Capital Investment Bank (Labuan) Ltd on April 23. – Bernama  

TSH Resources Bhd has proposed to make a bonus issue of up to 60.76 million shares on a one-for-two basis and a one-into-two share split. 

The share split involves the subdivision of each share of RM1 par value each into two shares of 50 sen par. 

TSH is involved in plantations, wood-based resource manufacturing, cocoa processing and energy generation. – AFX-Asia 

HAIO ENTERPRISE BHD’S wholly-owned unit, MCC City Sdn Bhd, has subscribed for 75% or RM375,000 comprising 375,000 RM1 shares in Golden Chopstick Restaurant Sdn Bhd (formerly known as Restaurant HaiO Feng Ze Yuan Sdn Bhd). 

The remaining 25% or RM125,000 comprising 125,000 RM1 shares are held by 20 other individual shareholders. – Bernama 

Prolexus Bhd has entered into a joint venture agreement with Shenyang Mengliang Down Fashion Co Ltd of China on April 20 to set up a joint venture in Shenyang, China, for the manufacture and sale of apparels for the export market. 

The proposed name of the joint venture company is ATex Fashion Ltd, Shenyang. – Bernama 

SIN KEAN BOON GROUP BHD said it was keen to dispose of 350,000 RM1 shares in Aluminium Service Centre Sdn Bhd for RM500,000. – Bernama 

METAL RECLAMATION BHD (MRB) has proposed to undertake the acquisition of 233,295 S$1 shares in Nutek (Nutek shares) representing about 47.5% of the issued and paid-up capital therein from Lim Sheng Seaw @ Lim Cheng Fie (vendor) for RM25mil cash (proposed Nutek acquisition).  

MRB and the vendor have agreed to fix the exchange rate at RM2.20 to S$1.00. 

The proposed Nutek acquisition will be funded by MRB via internally generated funds. – Bernama  

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