News in brief

Suria Capital Holdings Bhd yesterday received its shareholders' approval to take over the operation, maintenance, management and the provision of facilities and services of the Sabah ports. 

Its chairman Tan Sri Ibrahim Menudin said after the group’s AGM and EGM in Kota Kinabalu that the shareholders’ approval would remove investors’ doubt on the company’s proposal to get into port business. 

Suria through its wholly-owned subsidiary, Sabah Ports Sdn Bhd, will take over the seven ports in Sabah, namely Kota Kinabalu, Sapanggar Bay, Kudat, Lahad Datu, Sandakan, Tawau, and Kunak, which are currently operated by Sabah Ports Authority (SPA), one of the state government agencies. – Bernama 

ALLIANZ General Insurance Malaysia Bhd sees its life and general insurance business performing well this year. 

Its chief executive officer Alexander Ankel said after the company's AGM in Kuala Lumpur yesterday that the group expected 2004 to be a good year for the company. 

“We are also aiming at a market share increase for Allianz Life Insurance of 5% from its current 4.5% this year, and Allianz General Insurance at 8% in 2006 from 5% currently,” he added. – Bernama 

TA ENTERPRISE BHD said its first quarter to April net profit rose to RM8.94mil from RM2.12mil a year ago on higher stockbroking earnings and income from financing the employee share option schemes implemented by selected public listed companies of Bursa Malaysia.  

First quarter sales grew 66% year-on-year to RM50.71mil.  

It expects its full year results to improve further. – AFX-Asia 

Its chairman Tan Sri Ibrahim Menudin said after the group’s AGM and EGM in Kota Kinabalu that the shareholders’ approval would remove investors’ doubt on the company’s proposal to get into port business.