News in brief

Excel Force MSC Bhd's offer of 2 million shares for application by the public has been oversubscribed, Malaysian Issuing House said on Friday. 

A total of 20,512 applications for 109.012 million shares were received for the shares made available for public subscription, representing an oversubscription of 53.51 times. 

The placement of 11.6 million shares to identified investors had also been fully placed out, MIH said in a statement. – Bernama 

Tiong Nam Logistics Holdings Bhd said its unit Tiong Nam Logistics Solutions Sdn Bhd has signed an agreement with Linocraft Printers Sdn Bhd to buy land and building in Johor Baru for RM5mil cash. The purchase is to provide additional warehousing facilities for the expansion of its total logistics activities in the southern region. 

PULAI SPRINGS BHD said it would raise gross proceeds of RM5.25mil from the sale of 52.5 million warrants to its shareholders at 10 sen each. Existing shareholders are entitled to subscribe to one warrant for every two Pulai Springs shares held, it said. – XFN-Asia 

PETALING GARDEN BHD (PGarden) said it has accepted an omnibus line facility of RM20mil from Bank Muamalat Malaysia Bhd (BMMB) comprising muamalat revolving facility and kafalah bank guarantee (sublimit of RM10mil). 

The banking facilities would serve as its group's working capital and operational requirements. The facilities are offered without legal charge on its assets but PGarden is required to give Lien Holder's caveat on Pudu Plaza titles to BMMB. – Bernama  

A total of 20,512 applications for 109.012 million shares were received for the shares made available for public subscription, representing an oversubscription of 53.51 times.