SLP public issue oversubscribed

KUALA LUMPUR: SLP Resources Bhd's public issue of six million shares has been oversubscribed 0.6 time. Malaysian Issuing House Sdn Bhd said in a statement a total 1,379 applications for 9.59 million shares were received from the public. SLP, in conjunction with its proposed listing on Bursa Malaysia second board, had undertaken a public issuance of 26 million new 50 sen shares and an offer for sale of 25.4 million 50 sen shares at an issue price of 85 sen per share.

AISB looks at alliance with HG Metal S'pore

KUALA LUMPUR: Amalgamated Industrial Steel Bhd (AISB) has inked a memorandum of understanding with Singapore-listed HG Metal Manufacturing Ltd to commence discussions on various potential areas for business collaboration. The company said in a statement any proposed strategic business alliance would leverage on AISB's manufacturing expertise and HG Metal's strong international network. HG Metal is involved in the manufacturing and trading of steel products.

Scientex to conclude takeover plan soon

PETALING JAYA: Scientex Inc Bhd's (SIB) proposed voluntary takeover of Scientex Packaging Bhd (SciPack) is closer to being realised after it received acceptance from minority shareholders of the company totalling 75.145%. The exercise involves a share-swap scheme in which one SIB share valued at RM1.30 is offered for one SciPack share.