Tanjung said TOS is in the midst of satisfying the scope of work stipulated in the letter of award from Petronas Carigali involving engineering, assembly, testing and delivery of the turbine which are expected to be completed by March 2006.
It said the contract is expected to contribute positively to earnings for financial year ending Dec 31, 2005 and 2006 respectively. – Bernama
Ekran acquired Wisma Ekran in April 1995 for RM20mil. As at Oct 31, the net book value of the property wass about RM15.6mil.
The company said the disposal would enable the group to reduce its outstanding loan and funds for working capital. – Bernama
·Asian Pac Holdings Bhd
'S wholly-owned subsidiary, Syarikat Kapasi Sdn Bhd (SKSB), has proposed to acquire 2.62ha in Kampung Karamunsing, Kota Kinabalu, for RM16.3mil from TCB Realty Sdn Bhd.
TCB is a wholly-owned subsidiary of Tradewinds Properties Sdn Bhd, which in turn is wholly-owned by Tradewinds Corp Bhd.
Asian Pac said the land to be acquired would complement the existing property development projects by SKSB in Kota Kinabalu, namely KK Time Square, as well as strengthen the group's land banks for potential development in the near future. – Bernama
will raise its interest in Bursa Malaysia Depository Sdn Bhd to 100% after it agreed to accept an offer from ABMMCD Holdings Sdn Bhd. ABMMCD is selling its 25% interest in Bursa Depository for RM35.63mil cash.
Bursa Malaysia said the acquisition was expected to be completed in the first quarter of 2006 and it plans to finance it through internally generated funds. – Bernama
has fallen into the red, reporting a pre-tax loss of RM34.73mil for its first quarter ended Sept 30, 2005, from a pre-tax profit of RM38.88mil in the same quarter last year. The loss was incurred over reduced revenue of RM597.19mil against RM658.33mil previously. – Bernama
BHD'S first-quarter profit dropped 21% after sales declined. Net income fell to RM14.2mil, or 7.1 sen a share, in the three months ended Sept 30, from RM17.9mil, or 9 sen, a year earlier, the company said. Sales dropped 5.7% to RM297mil.
Profit also fell because a subsidiary booked a RM6.5mil restructuring charge, it said in a statement. The company's performance should improve in the remaining quarters, it said, without elaborating. – Bloomberg
The construction and property group said in a statement that phase one of the project, earlier awarded to NCSB, was nearing completion.
The project is located on 60 acres in Bandar Baru Permyjaya, Miri.
– AFX-Asia
ICM was granted an irrevocable right to carry out the construction works for the proposed development, and to develop and operate the new campus on a concessionary basis for 30 years.
Isyoda said the construction period for the proposed development was expected to be 30 months. – AFX-Asia
recalling and terminating a term loan facility of RM240mil and an overdraft facility of up to RM20mil and demanding payment within 10 days. In a statement, PSCI said Alliance is seeking payment for RM272.4mil in outstanding principal and interest due up to end-October 2005 under the facilities, plus interest continuing to accrue thereon until full payment.
PSCI said it and its unit would respond to Alliance's demands. No other details were given. – AFX-Asia
The bonds were sold in five portions with maturities ranging from three years to seven years, Affin Bank Bhd, the sale arranger, said in an e-mailed statement. The debt was issued at profit rates, or coupons, of 4.75% up to 12.2.
Malaysian companies raised RM21.9bil in the first nine months of 2005 versus RM9.1bil in 2004, according to Bank Negara data, the biggest amount from any country.
Boustead plans to use part of the proceeds to refinance a short-term loan the company took out to purchase the gasoline retailing business of BP Plc in Malaysia, finance director Daniel Ebinesan said Nov 9. – Bloomberg
worth RM143.7mil. Sime Darby Bhd is the holding company of both SES and Tractors, holding 70.03% and 71.74% of SES and Tractors respectively.
In a statement, SES said its unit Sime Engineering Sdn Bhd (SE) has entered into a consortium agreement with Tractors Malaysia Sdn Bhd (TM) to undertake the engineering, procurement, construction and commissioning of the Kuantan and Segamat compressor station expansion projects.
The company said in a statement to Bursa Malaysia that it would finance the purchase with bank borrowings.
Petra said the acquisition would allow its marine division to cater to the increasing needs of the regional oil and gas industries.
It added that the acquisition was expected to contribute positively to future earnings. – AFX-Asia
has reported a higher pre-tax profit of RM34.47mil for its third quarter ended Sept 30, compared with RM18.6mil in the year-ago period. Its turnover was RM520.94mil, up from RM454.96mil previously. – Bernama
The principal activities of WSDIM would be investment holding and provision of management services, Sime Darby said.
It said Sime Overseas would own 51% of WSDIM, with the balance 49% to be held by Weifang.
Sime Darby said an agreement was also signed with Weifang to acquire an 80% equity interest in Weifang Sime Darby Port Co Ltd for US$20mil.
The company said it had signed another agreement with Weifang was for the acquisition of 80% equity interest in Weifang Sime Darby Water Co Ltd for US$10mil. – Bernama
Tanjung said TOS is in the midst of satisfying the scope of work stipulated in the letter of award from Petronas Carigali involving engineering, assembly, testing and delivery of the turbine which are expected to be completed by March 2006.
