June 14 2004:




Ind Concrete to invest in ICPZ


INDUSTRIAL Concrete Products Bhd has entered into a shareholders agreement to invest up to 71 per cent, or 56.8 million shares, in ICP Zhuhai Co Ltd (ICPZ). To be incorporated in Guangdong province, China, ICPZ’s proposed paid-up share capital will be 80 million renminbi, or RM36.7 million. ICPZ will be used as the joint-venture company for the production and sale of concrete products in Bai Jiao Zhen, Zhuhai City, Guangdong Province, China. A technology transfer agreement will be made to allow ICPZ to manufacture pre-tensioned spun concrete piles of up to 1,200mm diameter and up to a maximum length of 50m for a technology transfer fee of 8.5 million renminbi (RM3.9 million). Royalty of up to 2 per cent of turnover would be payable by ICPZ to Industrial Concrete for using its trademark and logo for promotion of its products. The technology transfer fee and royalty are subject to approval by the Chinese authorities. ICPZ’s other shareholders are Guangzhou Mechanical and Electrical Group Holding Co Ltd (8 per cent), Zhuhai Hoston Special Materials Co Ltd (12 per cent), CHEC Guangzhou Port Construction Co (6 per cent) and Masterich Ltd (3 per cent).



Kyros Kebab enters West Asia


POULTRY farmer and trader CAB Cakaran Corp Bhd said its wholly-owned subsidiary, Gettmore Group Sdn Bhd, has granted a master franchise right to Kyros Kebab Middle East, LLC (KKME) to develop the Kyros Kebab chain in West Asia. “The successful penetration into the West Asian market by Kyros Kebab represents a major breakthrough toward its future expansion into other West Asian countries via sub-franchising, Cab Cakaran told Bursa Malaysia Bhd. KKME is targeting to open the first Kyros Kebab restaurant in Dubai before the end of this year. Kyros Kebab has established its presence in the US, China, Indonesia, Singapore and Brunei.



RHB Capital appoints new CFO


RHB Capital has announced the appointment of its new chief financial officer (CFO) Albert Chan Huat Cheng. The company also announced its new organisation structure which takes effect from May 18 2004. Under the new organisation structure, certain heads of division will be reporting to the group executive chairman and the RHB Capital board of directors. The divisions are Finance, Business Engineering, Corporate and Employee, Communication, Human Resources, Information Technology, Internal Audit, Legal and Compliance, and Secretariat and Risk Management.



Digistar buys Nielsen


MESDAQ-listed Digistar Corp Bhd has acquired a dormant company, Nielsen Ward & Associates Sdn Bhd, for RM61. Nielsen Ward was incorporated in Malaysia on June 8 this year with an authorised share capital of RM100,000 divided into 100,000 ordinary shares of RM1.00 each, of which RM100 has been issued and fully paid-up.