said it intends to set up its second manufacturing company, TGP Plaspack (Suzhou) Co Ltd, in Suzhou, China. In a statement to Bursa Malaysia, Thong Guan said the new company will be a wholly owned unit, which will manufacture and sell plastic packaging products mainly for the local China market.
“The purpose of the above transaction is to enable the group to expand its business into the local market in China and to take advantage of taxation incentives offered by the Chinese government, “ it added. – AFX-Asia
has been served a summons claiming payment of RM30.34mil to Pengurusan Danaharta Nasional Bhd for an outstanding term loan and overdraft, the company said in a statement to Bursa Malaysia. No other details were provided. – AFX-Asia
will invest about RM200mil in 2006 for new content and programmes to support its expanded network, according to group managing director and chief executive officer Abdul Rahman Ahmad. The group would use its internal fund for the investment, he told a press conference in Kuala Lumpur yesterday. – Bernama
In a statement to Bursa Malaysia, Tanjung Offshore said the contract took effect Dec 1. – AFX-Asia
In a statement to Bursa Malaysia, the company said the proposed transfer was expected to enhance the group's standing and attractiveness to investors and bankers, as well as the confidence of its customers, suppliers, shareholders and employees. – AFX-Asia
Beginning Dec 20, it would offer daily service to Balikpapan, while the flight to Solo will commence on Dec 27.
All flights would depart from the KL International Airport, AirAsia said in a statement yesterday. - AFX-Asia
subsidiary Berjaya Leisure (Cayman) Ltd is proposing to invest RM15.5mil in Berjaya (China) Great Mall Co Ltd in exchange for a 51% stake in Great Mall's enlarged capital. In a statement to Bursa Malaysia, Berjaya Land said that Berjaya (China) Great Mall Co Ltd, principally involved in property development and investment, was fully owned by Tan Sri Vincent Tan Chee Yioun.
Berjaya (China) Great Mall has obtained commercial land use rights over two pieces of land measuring 75.89 acres in China for RM13.9mil cash. – AFX-Asia
told Bursa Malaysia it has been awarded a RM3.9mil contract by Universiti Telekom Sdn Bhd to supply and install communications systems for the Multimedia University at Cyberjaya. Currently, the unbilled portion of jobs and contracts secured by the Digistar group amounts to RM33mil, and these projects are expected to be completed over the next two years.
The proposed acquisitions will complement the core business of the Sunway Holdings group and represent a diversification into the business of heavy machinery trading, as well as the manufacture of hose fittings and hose assemblies. – Bernama
Under the pact, the two companies would undertake several collaborative projects with the objective of establishing oils-and-fats-based businesses, GHope said in a statement to Bursa Malaysia.
The proposed projects would include the commissioning of two feasibility studies to establish such oils-and-fats-based businesses in India and Turkey, it said.
Another feasibility study would explore bio-diesel production in Malaysia and/or Japan, and develop a bio-fuel market in Japan, it added. – AFX-Asia
In a statement to Bursa Malaysia, Thong Guan said the new company will be a wholly owned unit, which will manufacture and sell plastic packaging products mainly for the local China market.
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