Timber and sustainable forest management group Priceworth International Bhd has begun harvesting operations in Compartment 57 in Forest Management Unit 5 (FMU5), Sabah, through its subsidiary Sinora Sdn Bhd, following the completion of infrastructure and construction works.
“We expect timber harvested from Compartment 57 to immediately have a positive effect on our monthly production figures and ultimately on the throughput volume from our plywood manufacturing facility,” said Priceworth executive director Richard Koo. “This will lead to a positive contribution to our bottom line.”
Bursa Main Board-listed Damansara Realty Bhd said yesterday that it recorded a net profit after taxof RM2.5 million for the six months ended 30 June 2017 (1H17), sharply reversing a net loss of RM9.8 million a year ago (1H16).
The result marks DBhd’s strongest half-year performance in four years and reflects the success of its recent restructuring efforts.
Prestariang Berhad announced yesterday that is wholly-owned subsidiary Prestariang Capital Sdn Bhd entered into a Subscription agreement with OpenLearning Global Pte Ltd (OGPL) and Adam Maurice Brimo, for the subscription of up to 5,000,000 new "A" Ordinary Shares (A Shares) of OGPL and 3,069,578 convertible preference shares for the purpose of venturing into the higher education cloud-based markets both domestically and regionally.
OGPL is a newly incorporated company under the laws of Singapore and as at the date of the Agreement, has an issued share capital of one (1) ordinary share of AUD1.00. As part of internal restructuring exercise pursuant to the Agreement, OGPL will own two wholly-owned operational subsidiaries in both Australia and Malaysia, namely Open Learning Global Pty Ltd (OLGPL) and OpenLearning Global (M) Sdn Bhd (OGMSB) (collectively referred to as the “OGPL Group”).