The sale also includes the brokerage's subsidiaries, KLCS Asset Management Sdn Bhd, Kuala Lumpur City Nominees (Tempatan) Sdn Bhd, Kuala Lumpur City Nominees (Asing) Sdn Bhd and KLCity Unit Trust Bhd.
Alliance Merchant Bank is a wholly-owned unit of Malaysian Plantations Bhd. – AFX-Asia
In a statement, the company said the project was expected to be completed by end-January 2006. No other details were given. – AFX-Asia
China Roots is a wholly-owned subsidiary of Mega, incorporated in China. – AFX-Asia
The AAA-rated papers are guaranteed by Malayan Banking Bhd. – AFX-Asia
The new company, incorporated in Nigeria, will be named MISC Nigeria Ltd. Nigeria is among the world’s top ten oil producing countries.
In filing to Bursa Malaysia, APM said the licence was issued to APM Springs (Vietnam) Co Ltd, a limited liability enterprise established under the Laws of Vietnam and a wholly-owned subsidiary of APM Automotive International Ltd.
It has a registered investment capital of US$4mil and initial capital outlay of US$3.8mil, which will be financed by internal funds. – Bernama
The company said in a statement it sold a four-storey commercial building and other smaller structures on a 10,626-sq-m leasehold site in Kuala Lumpur.
It also sold a 22,182-sq-m industrial freehold land with some temporary structures in Klang for RM4.54mil. The KL building was previously occupied by Park May as its head office.
The company said the current net book value of the KL and Klang properties were RM9.8mil and RM2mil respectively.
The sales, expected to complete in the first quarter of 2005, will enable Park May to raise cash to reduce borrowings, resulting in annual interest savings of about RM720,000 based on an average interest rate of 6% a year. – AFX-Asia
Maxis is proposing a RM500mil commercial paper/medium-term note program (CP/MTN) and a RM500mil medium-term note programme (MTN). The CP/MTN will have a tenure of seven years and the MTN 30 years.
The principal adviser, lead arranger and facility agent is HSBC Bank Malaysia Bhd. – AFX-Asia