News in brief

UMW Holdings Bhd said its 51%-owned unit UMW Toyota Motor Sdn Bhd (UMWT) yesterday signed a vehicle assembly agreement with Perodua Manufacturing Sdn Bhd (PMSB), appointing PMSB as assembler and producer of certain specified vehicles for UMWT. 

PMSB is a unit of Perusahaan Otomobil Kedua Sdn Bhd (Perodua). 

Permodalan Nasional Bhd and the Employees Provident Fund are major shareholders of both UMW Holdings and PMSB. – AFX-Asia 

US-based Capital Group Companies Inc has raised its stake in MAXIS COMMUNICATIONS BHD via the acquisition of 1.26 million shares at prices ranging from RM8.648 to RM8.738 each from June 2 to 4. 

In a statement, Maxis said that after the purchase Capital Group’s holding in the company stood at 137.27 million shares. No other details were given. – AFX-Asia 

TRACOMA HOLDINGS BHD has signed a memorandum of understanding with Wooshin Global Sdn Bhd to form Profen-Wooshin (M) Sdn Bhd, a 60:40 joint venture that will offer engineering consulting and design services, as well as jig and fixture manufacturing and installation. 

In a statement to the stock exchange, Tracoma said the joint venture would be responsible for penetrating new markets in Indonesia, Thailand and other Asean countries. 

The new unit would also leverage on the technical expertise and marketing support of its parent companies, it added. – AFX-Asia 

AMMB Holdings Bhd said the Employees Provident Fund (EPF) has raised its stake in the company by acquiring 2.02 million shares on the open market on May 25 and 26. 

The EPF now owns 246.84 million shares in the company, according to AMMB. No other details were given. – AFX-Asia 

THE Employees Provident Fund (EPF) ceased to be a substantial shareholder of telecommunications firm DIGI.COM BHD with effect from May 28. 

In a filing with the stock exchange, the company said the EPF had sold some 835,000 DiGi shares. A substantial shareholding is deemed to be 5% or more. 

The filing did not provide details such as the date of the transaction and the price. It also did not disclose the EPF's current shareholding in DiGi.  

However, according to DiGi's previous filings with the exchange, the EPF held up to 38.27 million DiGi shares, representing a 5.1% direct stake, as of May 26. – AFX-Asia 

Unimech Group Bhd said the Securities Commission has approved its proposed one-into-two share split. 

The company specialises in manufacturing, engineering and trading of valves, pipe fittings and rubber expansion joints. – AFX-Asia 

Texchem Resources Bhd proposes to acquire up to 1.84 million shares in Texchem Corp Sdn Bhd (Texcorp) from Texchem Holdings Sdn Bhd and Introplus Sdn Bhd. 

The company said in a statement that the acquisition would be financed with internal funds and borrowings. 

Texchem said, besides having sound financial footing, Texcorp would complement its operations and be synergistic to its future growth. – AFX-Asia

PMSB is a unit of Perusahaan Otomobil Kedua Sdn Bhd (Perodua).