CAB Cakaran PLANS 1-FOR-2 BONUS ISSUE:Integrated poultry farmer and trader CAB Cakaran Corp Bhd is proposing a one-for-two bonus issue of up to 45.34 million new 50sen shares.
In a filing with Bursa Malaysia yesterday, CAB Cakaran said it proposed to transfer the listing and quotation of its entire enlarged issued and paid-up share capital to the BursaMalaysia main board from the second board upon completion of the bonus issue.
CAB Cakaran said the proposed bonus issue was not expected to have any effect on its earnings for the financial year ending Sept 30, 2006.
OCTAGON UNIT IN MALACCA WASTE MANAGEMENT PROJECT:
Octagon Consolidated Bhd said its unit Melaka Waste To Energy Sdn Bhd has signed a conditional emission reductions purchase agreement with Japan Carbon Finance Ltd for the sale of certified emission reduction (CER) generated by the Waste to Energyproject in Malacca from 2008 to 2012for US$5.5mil–US$6mil (RM20.7mil–RM22.6mil).
In a statement to Bursa Malaysia, Octagon said that the Waste to Energy project would destroy municipal solid waste from Malaccausing plasma technology and then use the synthetic gas from the waste to generate renewable energy. — AFXAsia
INFLATION RATE UP:
Inflation held in December at the second highest level in almost seven years, increasing expectations Bank Negara will raise its key interest rate this quarter.
The consumer price index rose 3.5% from a year earlier, the Department of Statistics said in a statement yesterday.
Malaysia's inflation rate more than doubled to 3% in 2005, the highest since 1998, from 1.4% the previous year. – Bloomberg