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Symphony creates minor stir with MIH buy

HARDLY three weeks after its Valentine#039;s Day listing, Symphony House Bhd has created a minor stir on the share market with its proposed acquisition of Malaysian Issuing House Sdn Bhd (MIH) for RM2.45 million cash. It was, by far, the most active counter on the Kuala Lumpur Stock Exchange (KLSE) on Wednesday (the day the announcement was made) and Thursday.


Vivendi posts record loss in French history

Debt-laden Vivendi Universal has posted the biggest loss in French corporate history and confirmed it is in talks to ditch its US show business assets as part of its turnaround efforts.


Sing Pao to buy 10 to 12 Chinese firms

Newspaper and magazine publisher Sing Pao Media Group expects to complete up to a dozen acquisitions in the coming year as a step to enter China#8217;s publishing distribution business.


News in brief

News in brief on Celcom, Atlan, Rashid Hussain and other firms.


Insurance consolidation gets heated up

PACIFICMAS Bhd attracted much interested over the week on news of a possible backdoor listing with the country's largest life insurance company Great Eastern Life Assurance (M) Bhd.


Nestle profit up 13% but misses sales growth target

Nestle SA, the world#8217;s largest food group whose portfolio of brands includes I>Nescaf/I>e coffee, I>KitKat/Ichocolate bars and I>Perrier/Iwater, reported yesterday a 13% rise in 2002 profit but said core sales growth failed to reach its own target.


CIMB profit 16% higher than forecast

RECENTLY-LISTED CIMB Bhd has announced a pro forma after-tax profit of RM130.4mil for the year ended Dec 31, 2002, beating by 16% the profit forecast of RM112.7mil that it made in its prospectus.


Better Q2 Sime results seen

SIME Darby Bhd is expected to show bigger profits for the 2nd quarter of its current financial year but all eyes will be on whether the company raises its interim dividend accordingly.


Malaysia M&A - one step back, two steps forward

Foreign acquisitions fell in 2002, but this was more than offset by growth in deals done by Malaysian acquirers. The bright spot? Malaysian corporates are venturing abroad again.


Versus the CI

Liew Lai Jing writes on Island and Peninsular, Palmco, UAC, MOX and Lingui.