Selvarajah still Permanis CEO
KUALA LUMPUR: Erwin Selvarajah is still CEO of beverage-maker Permanis Sdn Bhd that has just been sold to Japan’s Asahi Group, CI Holdings Bhd (CIH) said in a statement yesterday to clarify an earlier announcement.
On Nov 11, CIH announced 41-year-old Selvarajah’s resignation as its CEO, following the change in Permanis’ ownership.
Formerly wholly owned by CIH, Permanis — the maker of beverages like Pepsi, Gatorade and Tropicana in Malaysia — is sold to Asahi for RM820 million, of which 88% or RM724.2 million will be distributed to CIH shareholders.
Selvarajah has been Permanis’ CEO since 1999, and had only been CIH’s CEO for 15 months from Aug 25 last year. Selvarajah has a 2.99% stake in CIH.
Xingquan locks in RM333m sales
KUALA LUMPUR: China-based Xingquan International Sports Holdings Ltd locked in 670 million yuan (RM333 million) in sales of its Gertop brand of shoes, apparels and accessories at its recent Spring/Summer 2012 sales fair in Quanzhou, Fujian province.
That’s up 10.7% from that booked at the same event last year, it said in a statement yesterday. The orders would boost the top line for FY ending June 30, 2012, it said.
Xingquan is slated to release results for 1Q ended Sept 30, 2011 next week. Its FY11 audited net profit was 216.6 million yuan on the back of 1.5 billion yuan in sales.
Esthetics prices rights at 8.7% premium
KUALA LUMPUR: Esthetics International Group Bhd has priced its warrant-sweetened two-for-five rights issue of 52.8 million shares at 50 sen apiece, a 8.7% premium to its five-day volume weighted market price of 46 sen.
Entitlement dates for the rights that comes with a similar number of warrants, exercisable at 50 sen each, will be determined at a later date.
This article appeared in The Edge Financial Daily, November 17, 2011.
KUALA LUMPUR: Erwin Selvarajah is still CEO of beverage-maker Permanis Sdn Bhd that has just been sold to Japan’s Asahi Group, CI Holdings Bhd (CIH) said in a statement yesterday to clarify an earlier announcement.
On Nov 11, CIH announced 41-year-old Selvarajah’s resignation as its CEO, following the change in Permanis’ ownership.
Formerly wholly owned by CIH, Permanis — the maker of beverages like Pepsi, Gatorade and Tropicana in Malaysia — is sold to Asahi for RM820 million, of which 88% or RM724.2 million will be distributed to CIH shareholders.
Selvarajah has been Permanis’ CEO since 1999, and had only been CIH’s CEO for 15 months from Aug 25 last year. Selvarajah has a 2.99% stake in CIH.
Xingquan locks in RM333m sales
KUALA LUMPUR: China-based Xingquan International Sports Holdings Ltd locked in 670 million yuan (RM333 million) in sales of its Gertop brand of shoes, apparels and accessories at its recent Spring/Summer 2012 sales fair in Quanzhou, Fujian province.
That’s up 10.7% from that booked at the same event last year, it said in a statement yesterday. The orders would boost the top line for FY ending June 30, 2012, it said.
Xingquan is slated to release results for 1Q ended Sept 30, 2011 next week. Its FY11 audited net profit was 216.6 million yuan on the back of 1.5 billion yuan in sales.
Esthetics prices rights at 8.7% premium
KUALA LUMPUR: Esthetics International Group Bhd has priced its warrant-sweetened two-for-five rights issue of 52.8 million shares at 50 sen apiece, a 8.7% premium to its five-day volume weighted market price of 46 sen.
Entitlement dates for the rights that comes with a similar number of warrants, exercisable at 50 sen each, will be determined at a later date.
This article appeared in The Edge Financial Daily, November 17, 2011.
