Renong makes another bid for a Philippine toehold

Article Abstract:

Renong Bhd. is finalizing its bid to take over a 69% equity interest in National Steel Corp. of the Philippines for approximately 1.2 billion ringgit ($482.7 million). The purchase will enable Renong to increase its investment to 2.5 billion ringgit and get almost 90% stake in National Steel once the deal is closed. There had been no objections to the acquisition but financial executives are apprehensive about the competition of two Malaysian firms in the Philippines.

Iron and Steel Mills, Blast furnaces and steel mills, Raw Steel, Coke Ovens & Blast Furnaces, Steel industry, Renong Bhd., National Steel Corp. (Mishawaka, Indiana), NS, Steel mills

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Malaysia's Samsudin sells his stake in Landmarks, ending a messy battle

Article Abstract:

A three-month-old corporate struggle for control of Landmarks Bhd. ended with Malaysian businessman Samsudin Abu Hassan's decision to sell his 16.7% stake in the company to Eastnusa Holdings Sdn. Bhd. Samsudin also revealed that he and his corporate rival, Soh Chee Wen, have agreed to take steps to end their long-standing dispute. The controversy for control of Landmarks started when Samsudin reneged on a promise to sell his shares to Soh in Dec. 1995.

Real Estate, Real Estate and Rental and Leasing, Real estate industry, Malaysia, Hassan, Samsudin Abu, Landmarks Bhd., Eastnusa Holdings Sdn. Bhd.

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MMC shares gain polish on restructuring

Article Abstract:

Several investment advisers recommend buying Malaysia Mining Corp (MMC). The analysts believe that MMC, one of the oldest mining corporations in Malaysia, is improving its dull reputation. The belief stems from indications of a corporate reorganization, potential privatization, and predicted financial backup from affiliates. MMC is also reportedly working on a takeover defense by making its share value reflect its assets.

Mining & Extractive Industries, Mining, Mining industry, Malaysia Mining Corporation Bhd.

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