TUESDAY, APRIL 4 AUSTRALIA: THE A$149 million (about HK$844.83 million) bid for Australian Agricultural Co by Elders Australia and Australian Metal Holdings was extended yesterday and would close on April 18.
- THE AUSTRALIAN MALAYSIA: BELTON Group, listed on the second board of the Kuala Lumpur Stock Exchange (KLSE), proposed bonus and rights issues to expand its paid-up capital to M$37.8 million (about HK$115.67 million) from $18 million. The company said the share exercises would help its working capital needs and its transfer to the main board of the KLSE.
- NEW STRAITS TIMES INTIPLUS said the public portion of its maiden share issue had been oversubscribed 22.86 times. The financial services company, to be listed on the main board of the KLSE this month, made a public issue of 18.89 million shares after reserving 19.8 million shares for its holding company, Tropical Veneer Co, and eligible directors and employees.
- NEW STRAITS TIMES PUBLIC Bank, one of Malaysia's top seven commercial banks, said it raised its base-lending rate to 6.65 per cent per annum from 6.60 per cent with immediate effect, owing to higher costs of funds.
- NEW STRAITS TIMES SINGAPORE: CANAUD Metalbox Asia, which shocked the market by declaring a net loss of S$1.5 million (about HK$8.23 million) in 1994, said in response to queries from the Stock Exchange of Singapore that 'a wrong interpretation of accounting standards' had resulted in the announcement of the operating profits in the 1994 interim period and losses for the full year.
- BUSINESS TIMES ANA Hotels yesterday reported a 30.9 per cent surge in net profit to S$3.4 million last year, but it did not pop champagne corks for its investors. The hotel did not propose any dividend for 1994.
