News in brief

KUALA LUMPUR: IJM Corp Bhd and its parties acting in concert own a total equity interest of about 69.957% in RB Land Holdings Bhd at the closing date of its general offer for RB Land, according to a stock exchange filing. 

IJM has received valid acceptances to the offer of about 0.002% of the issued and paid-up share capital of RB Land, it said in the filing. – AFX-Asia 

KUALA LUMPUR: Seacera Tiles Bhd's wholly-owned subsidiary Seacera Development Sdn Bhd has proposed to acquire two pieces of land in Pekan Kayu Ara, Selangor, for RM6mil. 

In a filing with Bursa Malaysia, Seacera said the 9,533 sq m land would be acquired for RM5mil and the 11,205 sq m land for RM1mil. 

The acquisition is part of the group's ongoing identification of suitable land to add to its land bank. – Bernama 

KUALA LUMPUR: Wonderful Wire & Cable Bhd (WWC) has proposed to dispose of its 70% stake in Transmission Resources Sdn Bhd to Business Nexus (M) Sdn Bhd for RM5.3mil. – Bernama 

KUALA LUMPUR: The fourth Malaysia International Halal Showcase (MIHAS) 2007 has attracted more than 500 exhibitors from 27 countries, Malaysia External Trade Development Corp chief executive officer Datuk Noharuddin Nordin told a press conference. 

Among the first-time participating countries are Argentina, Canada, Croatia, Kuwait and Morocco. 

MIHAS 2007 will be held at the Kuala Lumpur Convention Centre from May 9 to 13. 

KUALA LUMPUR: TA Investment Management Bhd (TAIM) will increase the fund size of TA European Equity Fund (TAEURO) by 50% to 300 million units. 

TAIM said in a statement the fund, launched on March 20, 2007 with an initial allocation of 200 million units, had been fully subscribed. 

Chief executive officer Simon Chow said TAEURO offered equity exposure to different sectors such as blue-chips, high-dividend stocks, smaller companies and bonds. – Bernama  

KUALA LUMPUR: Sunrise Bhd posted RM163mil revenue for its third quarter ended March 31 against RM88mil in the previous corresponding period. 

This was due to a robust increase in sales of the 10 Mont'Kiara project, which was launched last year, and the ongoing development of Solaris Dutamas, it said in a statement. 

Moving forward, the company was confident of the prospects for the coming financial year. – Bernama 

KUALA LUMPUR: FACB Industries Inc Bhd's wholly-owned subsidiary Global Glister Ltd has proposed to sell its 60% stake in Kanzen TPCO Ltd to TPCO Investment Co Ltd for US$4.35mil.  

FACB said the disposal was due to the unsatisfactory performance of Kanzen TPCO. – Bernama 

KUALA LUMPUR: Evergreen Fibreboard Bhd has signed a sale and purchase agreement worth RM120mil with Dieffenbacher GmbH of Germany, on behalf of Siam Fibreboard Co Ltd. 

The deal is for the supply and commissioning on the major part of a complete turnkey medium-density fibreboard line for a new plant. 

The new plant is expected to commission in the third quarter of 2008, with production mainly for the export market. – Bernama 

KUALA LUMPUR: Minetech Resources Bhd said its unit Minetech Realty Sdn Bhd has entered into a sale and purchase agreement with Wira Mayang Sdn Bhd to dispose of a property for RM1.6mil. – Bernama 

KUALA LUMPUR: Ancom Bhd reported that pre-tax profit for its third quarter ended Feb 28, 2007 fell to RM7.33mil from RM10.27mil in the previous corresponding period. 

Its revenue rose to RM526.02mil from RM283.14mil, the company said in a filing with Bursa Malaysia. – Bernama 

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IJM has received valid acceptances to the offer of about 0.002% of the issued and paid-up share capital of RB Land, it said in the filing. – AFX-Asia