News in brief

  • Business
  • Saturday, 04 Sep 2004

  • Haisan Resources Bhd
  • through its subsidiary Hai San and Sons Sdn Bhd has signed a six-year building and tenancy agreement with Havi Food (M) Sdn Bhd for an office-cum-warehouse and food processing plant, at a monthly rental of RM55,000. 

    Hai San and Sons shall complete the facility within six months from the approvals of the drawings of the building and machinery by the tenant or the date of the agreement, whichever is later. – Bernama 

  • has been reclassified to Practice Note No 4/2001 (PN4) Condition sector from industrial products, effective yesterday, a statement from Bursa Malaysia said. 

    Jin Lin is an affected listed issuer pursuant to paragraph 2.0 of PN4 as its quarterly report for the period ended June 30, 2004 showed a deficit in adjusted shareholders' funds of RM6.48mil. – Bernama 

  • has completed the proposed divestment as all of the conditions precedent in the share sale agreement entered into between Bernas Overseas (L) Ltd (BOL) and the other shareholders have been fulfilled. 

    The share sale agreement provides the terms and conditions for the sale of 900,000 ordinary shares of 10 Pakistan rupees each, representing 30% equity interest in Qaiser Noman Bernas (P) Ltd (QNB) to other shareholders for a cash of 33 million rupees. 

    Upon completion of the divestment, BOL now holds 20% equity interest in QNB. – Bernama 

  • Hai-O Enterprise Bhd
  • said it will sign a five-year Memorandum of Understanding on Sept 6 to help Majlis Amanah Rakyat (Mara) promote products of bumiputra entrepreneurs locally and in China. 

    “Hai-O will also assist these entrepreneurs on business opportunities in China and identify suitable products from China to be imported and marketed in Malaysia,” the company said in a statement. 

    Hai-O distributes Chinese medical products. – AFX-Asia 

  • is subscribing to an additional 14 million new shares in unit Ocean Electrical Co Sdn Bhd for RM14mil cash. 

    The capital injection would raise Ocean Electrical’s paid-up capital to RM15mil, PJI said in statement. – AFX-Asia 

  • Consumer electrical and electronic appliances maker Khind Holdings Bhd is increasing its investment in wholly owned Khind-Mistral Industries Sdn Bhd, raising the unit’s paid-up capital to RM5mil from RM50,000. 

    “The additional investment will be more reflective of the proposed new operations and assets to be employed in Khind-Mistral,” Khind said in a statement.  

    It did not elaborate on the investment or assets. – AFX-Asia 

  • has received word from the stock exchange that its shares will be de-listed from Bursa Malaysia on Sept 7, the company said in a statement. 

    Parent United Engineers (M) Bhd is taking the highway maintenance service provider private. – AFX-Asia 

  • Komarkcorp Bhd
  • said Procter & Gamble Guangzhou Ltd has awarded its wholly-owned unit Shanghai Komark Labels & Labelling Co Ltd a new labels supply contract and renewed the existing labels supply contracts covering China for one year, effective from July 1. 

    Komarkcorp also said it had on July 1 repatriated the profits from its overseas subsidiary, Guangzhou Komark Labels & Labelling Co Ltd, via the declaration of dividend amounting to some RM2.3mil. 

    The repatriation of profits will not have an impact on the performance of the group for the financial year ending April 30, 2005, as there will be no cash movement on a consolidated group basis. – Bernama 

  • KHIND HOLDINGS BHD has increased its investment in wholly-owned subsidiary Khind-Mistral Industries Sdn Bhd via an increase in the latter's issued and paid-up share capital from RM50,000 to RM5mil. 

    The additional investment will be more reflective of proposed new operations and assets to be employed in Khind-Mistral.  

    The investment in Khind-Mistral is not expected to have material effect on the earnings or net tangible assets of the company for the year ending Dec 31. – Bernama 

  • saw its half-year 2004 profit before tax jump 16% to RM20.38mil from the previous comparable period. 

    Its net asset value per share also increased to RM1.41 each. 

    The increase was due to the return of strong dry bulk imports in the energy sector and continuing strength in liquid bulk exports from the agriculture sector. 

    It also noted a promising start in dry bulk transhipment activities for coal out of Lumut Maritime Terminal. – Bernama  



    Article type: metered
    User Type: anonymous web
    User Status:
    Campaign ID: 1
    Cxense type: free
    User access status: 3
    Join our Telegram channel to get our Evening Alerts and breaking news highlights

    Next In Business News

    CPO futures poised for technical correction next week
    Join in the SCxSC 2021 for latest trends on fintech in the capital market
    The ageing conundrum
    Health and social systems a priority in shifting demographic trend
    Budget to boost flagging industries
    Lessons from China Auto
    Is inflation good for the economy?
    HSS to grow renewable energy business
    Good growth prospects for telcos
    On the path to V-shaped recovery

    Others Also Read