News in brief

  • Business
  • Tuesday, 22 Jul 2008

PETALING JAYA: OSK Holdings Bhd has obtained approval from the Cambodian government to incorporate OSK Indochina Bank Ltd (OSKIBL) which will pave the way for its commercial banking operations there.

In a statement to Bursa Malaysia yesterday, OSK said OSKIBL would have an issued and paid-up share capital of US$13mil divided into 13 million US$1 shares.

OSK said it targeted OSKIBL to commence business operations by Oct 31.

KUALA LUMPUR: Berjaya Media Bhd (BMedia) has appointed Datuk Azman Ujang independent and non-executive director.

In a filing with Bursa Malaysia, BMedia said Azman had been also appointed member of the company's audit committee.

He is also currently chairman of the Malaysian Press Institute.

Azman recently retired as general manager of Bernama after having served the national news agency for almost 36 years. – Bernama

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) has agreed to buy from MBSB Development Sdn Bhd freehold land measuring 13,533 sq m in Penang for RM26mil.

It planned to develop luxury service apartments on the property located about 15km from Komtar and 1km from Batu Ferringhi town, MRCB said in a filing with Bursa Malaysia yesterday.

The company added that the purchase would be funded via internally generated funds and external borrowings.

KUALA LUMPUR: BIMB Unit Trust Management Bhd, a wholly owned subsidiary of Bank Islam Malaysia Bhd, has declared an income distribution of two sen per unit for Amanah Saham Bank Islam Al-Mubin Fund.

In a statement, it said this was equivalent to an annual distribution yield of 6.99% based on the fund's net asset value beginning financial year July 1, 2007. It said all registered unit holders as at June 30 were entitled for the income distribution. – Bernama

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