News in brief

Berjaya Land Bhd said it has repaid RM4.62mil to Berjaya Sports Toto Bhd to partially settle inter-company advances. 

In a statement to Bursa Malaysia, the company said that following the repayment, inter-company advances owed by Berjaya Land Group to Berjaya Toto stood at RM663.47mil. – AFX-Asia 

WIJAYA BARU GLOBAL BHD informed Bursa Malaysia that it will not have any further negotiations with Novimax Sdn Bhd for the acquisition of a 47.2% equity interest in MUI Continental Insurance Bhd as the parties were not able to agree on terms. – AFX-Asia 

SAAG CONSOLIDATED (M) BHD is selling two HFO/diesel generating sets with ancillary equipment to a large multinational company for US$6.3mil. 

In a statement to Bursa Malaysia, SAAG said the units were to be delivered within 12 months after overhaul and refurbishment. 

It added that the deal would make a positive contribution to its earnings in the current year. – AFX-Asia 

Taliworks Corp Bhd has announced that its wholly owned subsidiary, Sungai Harmoni Sdn Bhd, has entered into a supplemental agreement with Syarikat Pengeluar Air Sungai Selangor Sdn Bhd to vary certain terms and conditions of the operations and maintenance agreement dated Jan 24, 2000. – Bernama 

KUALA LUMPUR CITY CORP BHD said the company and its wholly owned subsidiary, Assedina Sdn Bhd, have made an offer to Sung Jung Hwa, Soh Chee Yong and Chong Tze Voon to acquire 80% equity interest in Nextel Group. – Bernama 

CHIN FOH BHD (CFB) said the company has to adjourn its 10th AGM to Aug 22 due to the legality of the business of the 10th AGM with regard to the resolutions for the proposed appointment of four nominees. 

In a filing to Bursa Malaysia on Tuesday, CFB said the adjournment was to allow sufficient time for the nominating shareholders to rectify the legality before the resolutions for the proposed appointment of the four nominees were to be put to the vote of the shareholders of CFB. 

SAFEGUARDS CORP BHD posted a pre-tax loss of RM367,000 for the financial year ended June 30, against a pre-tax profit of RM18.94mil in the same period last year. Revenue dropped to RM231.35mil from RM253.38mil. 

In the fourth quarter, it recorded a pre-tax profit of RM5.69mil compared with RM698,000 in the same quarter last year. Turnover rose to RM65.89mil from RM64.28mil. – Bernama  

Main Board listed Eastern & Oriental Bhd (E&O Bhd) has served a notice of conditional mandatory offer on the board of directors of E & O Property Development Bhd (E&O PROP) which it does not already own at offer prices of 65 sen per offer share and 10 sen per offer warrant respectively. 

E&O said that the company purchased 25,240 million E&O PROP shares at 64.5 sen each on Wednesday. 

Since March 22, E&O had purchased 41.127 million E&O PROP shares, bringing to an acquisition amounting to 3.62% of E&O PROP’s present issued and paid-up share capital. 

Currently, E&O holds 47.32% stake in E&O PROP shares and 47.07% stake in E&O PROP warrants. – Bernama 

NALURI BHD has entered into a conditional sale and purchase agreement with Orchard Boulevard Sdn Bhd (OBSB) for the acquisition by Naluri of four million ordinary shares of RM1 each in Blossom Time Sdn Bhd (BTSB), representing the entire issued and paid-up share capital of BTSB for RM150,000 cash. 

The proposed BTSB acquisition shall be funded from its internally generated funds and expected to be completed by end of this financial year. – Bernama 

UEM WORLD BHD proposed the acquisition of the remaining 20% equity interest in Amra Resources Sdn Bhd, an 80% subsidiary of UEM World, by UEM Land Sdn Bhd, a wholly-owned subsidiary of the UEM World, from Gagasan Kencana Sdn Bhd for cash of RM261.2mil to be satisfied by the disposal of 907.243 acres of land in Bandar Nusajaya. – Bernama 

MINPLY HOLDINGS (M) BHD’S wholly owned subsidiary, Minply Sdn Bhd, is selling two factories in Selangor to Hua Fong Trading Sdn Bhd for RM2.3mil. 

In a statement to Bursa Malaysia, the company said the proceeds would enable it to reduce its bank borrowings. 

It added that the disposal would not affect Minply Sdn Bhd’s operations as the properties are not in active use by Minply or its subsidiaries. – AFX-Asia

In a statement to Bursa Malaysia, the company said that following the repayment, inter-company advances owed by Berjaya Land Group to Berjaya Toto stood at RM663.47mil. – AFX-Asia