News in brief

  • Business
  • Saturday, 25 Sep 2004

HSBC HOLDINGS PLC has emerged as a substantial shareholder in HIAP TECK VENTURES BHD with 16.751 million shares, or a stake of 5.12%, in the company.  

In a filing with Bursa Malaysia, Hiap Teck said HSBC bought the shares on the open market on Sept 16.  

Under Malaysian law, a company is deemed to be a substantial shareholder if it owns a stake of more than 5% in a listed entity. – AFX-Asia 

PERMODALAN NASIONAL BHD (PNB) said it had ceased to be a substantial shareholder of retail group Aeon Co (M) BHD following its sale of 1 million shares in the company on Sept 14. No other details were given. – AFX-Asia 

PSC INDUSTRIES BHD said its joint-venture unit PSC-WEC International Co Ltd has secured a contract from the National Housing Authority of Thailand for two land and housing development projects in Bangkok, valued at about 652 million baht. 

PSC Industries said its unit Penang Shipbuilding and Construction Sdn Bhd owned a 49% stake in PSC-WEC, with Thai investors holding the remaining 51%. 

The first project involves the construction of 1,375 low-cost houses in Bangkok, to be completed over 630 days, valued at about 421 million baht. 

The second project is for the construction of 726 low-cost homes in Bangkok, over 600 days, worth about 231 million baht. 

It expects to sign the construction agreement, which will include further details of the project, by Oct 29. – AFX-Asia 

CELESTIAL PICTURES LTD’S wholly-owned subsidiary, Celestial Movie Channel Ltd, has launched its global Chinese movie channel, Celestial Movies, into upscale hotels and residential compounds throughout China. 

Launched in March last year, Celestial Movies is now available in countries across Asia and Australasia, with future plans to be introduced into North America and Europe. 

Celestial Pictures is a wholly-owned subsidiary of Astro All Asia Networks plc, which is Malaysia’s leading cross media operator specialising in the origination, aggregation and distribution of content across multiple platforms. – Bernama 

SKP Resources Bhd’s wholly-owned subsidiary, Syarikat Sin Kwang Plastic Industries Sdn Bhd, will be entering into a sale and purchase agreement with Johor Corp to acquire a piece of land at Taman Technology Johor for RM3.57mil. 

The land will be used to construct a purpose-designed factory to accommodate existing operations and anticipated future growth of Sin Kwang Plastic business. – Bernama 

PARAMOUNT CORP BHD’s wholly-owned subsidiary, KDU International Training & Development Company Ltd, has changed its name to KDU International Language Training School Ltd effective Sept 21. – Bernama 

l JSPC ISOLUTIONS BHD, a certified SAP partner, has secured a contract from WorldFish Centre to implement WorldFish’s Integrated Management Information System enabled by mySAP ERP solution. 

The project, which is expected to take nine months to complete, will cover WorldFish’s headquarters in Penang and regional offices in Egypt and Bangladesh. 

WorldFish is a non-profit international scientific institution, which plays an active role in international fora and programmes in fisheries policies and management, food security and sustainable agriculture. – Bernama 

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