Getting There

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KUALA LUMPUR: Malaysia Steel Works (KL) Bhd (Masteel) has proposed a renounceable rights issue of up to 107.07 million five-year warrants at an indicative issue price of 20 sen each on the basis of one warrant for every two exi

KUALA LUMPUR: Property developer Bolton Bhd has signed a RM195 million syndicated banking facility with three banks to fund its expansion plan over the next three to five years.

The lenders -- Affin Investment Bank Bhd, Affin Bank Bhd and OCBC Bank (Malaysia) Bhd, have committed to provide RM170 million of term loan facility and RM25 million of revolving credit facility.

KUALA LUMPUR: AEON Co (M) Bhd is looking at new retail formats, such as its smaller neighbourhood shopping centre in Mahkota Cheras, to meet the market demand.

Its chairman, Datuk Abdullah Mohd Yusof said this new concept centres along with its future shopping complexes would help increase its revenue amid the stiff competition in the retail market.

KUALA LUMPR: Tesco Stores (M) Sdn Bhd expects its six new stores in Malaysia to contribute 15% to its revenue in the financial year ending Feb 28, 2011, its Chief Executive Officer Tjeerd Jegen said.

The hypermarket operator registered a revenue of RM3.5 billion in the 2009/2010 financial year.

SHANGHAI: China’s housing market, the most heated sector contributing to a potential bubble, has started showing some signs of cooling, according to Thomson Reuters Proprietary Research on China’s market.

KUALA LUMPUR: Faber Group Bhd recorded profit before tax (PBT) of RM141.2 million for FY 2009, up 26.6% from RM111.5 million for FY2008. Meanwhile, revenue for FY2009 was RM805.3 million, an increase of 21.8% from RM661.2 million for FY2008, stated Faber in a press statement on May 18.

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB)’s net profit for the 1Q ended March 31, 2010 surged to RM9.85 million from RM153,000 a year ago.

KUALA LUMPUR: Lafarge Malayan Cement Bhd (LMCB) has become the first local cement company to have two of its cement products awarded the Green Label Certification by the Singapore Environment Council (SEC). According to a statement on May 17, the two products are Mascrete LH and Phoenix.