News in brief


  • Business
  • Wednesday, 12 Jul 2006

KILLINGHALL GETS RM1.13BIL FROM SBB STAKE SALE: Killinghall (Malaysia) Bhd said it has received proceeds of RM1.13bil from the disposal of its entire stake in Southern Bank Bhd (SBB). In a statement, the company said upon the completion of the disposal, trading in its securities would continue for the next five market days and then be suspended with effect from July 19. The exchange would then proceed to de-list the securities, it said. – AFX-Asia 

 

UEM UNIT SIGNS PACT WITH INDON PROVINCE: UEM World Bhd said its wholly-owned subsidiary, UEM Environment Sdn Bhd, has signed a memorandum of agreement with the government of Kepulauan Riau Provinces, Indonesia, to allow UEM Environment to undertake feasibility studies in domestic, medical and hazardous waste management in the provinces. In a filing to Bursa Malaysia, it said upon completion, the provinces would give priority rights to UEM Environment to negotiate for the award of a 30-year concession over its feasibility studies. 

 

TECHFAST INCORPORATES NEW UNIT: Techfast Holdings Bhd said in a filing to Bursa Malaysia yesterday that it has incorporated a new wholly-owned subsidiary, Techfast International Sdn Bhd (TISB). The company is incorporated with an authorised capital of RM100,000 comprising 100,000 ordinary shares of RM1 each with an issued and paid-up capital of RM2. TISB is intended to be set up as an international centre to sell raw materials, components and finished products related to fasteners and electronic hardware.  

 

WELLCALL IPO OVERSUBSCRIBED: Wellcall Holdings Bhd's initial public offering (IPO) has been oversubscribed by 3.44 times, the Malaysian Issuing House (MIH) said. It said in a statement 5,808 applications were received for a total of 26.63 million shares, against only 6 million shares made available for subscription. MIH said the public portion of the IPO was oversubscribed by 4.3 times, while the bumiputra category had an oversubscription rate of 1.42 times. – AFX-Asia 

 

AMRB SHARES CLASSIFIED SYARIAH COMPLIANT: Shares of main board-bound Alam Maritim Resources Bhd (AMRB) have been classified as syariah-compliant by the Syariah Advisory Council (SAC) of the Securities Commission in conjunction with its initial public offering exercise. AMRB, which launched its prospectus on June 29, said in a statement it had met the criteria set by SAC before its shares were classified as syariah-compliant securities based on AMRB and its subsidiaries' latest audited financial statements for the financial year ended Dec 31, 2005. – Bernama 

 

NEXTNATION IN MOBILE GAMING VENTURE: Nextnation Communication Bhd and Indosat Tbk have launched Game War, the first mobile gaming community in Indonesia, for Indosat's 15 million subscribers. In a statement, Nextnation said the partnership with Indosat was through its subsidiaries Ozura Sdn Bhd and Indonesia-based PT Nextnation Prisma. – Bernama  

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