MALAYSIA BUSINESS BRIEFS:YTL Cement Buys New Stake In Co

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Friday 5 November 10:27 PM

MALAYSIA BUSINESS BRIEFS:YTL Cement Buys New Stake In Co

DJ MALAYSIA BUSINESS BRIEFS:YTL Cement Buys New Stake In Co

KUALA LUMPUR (Dow Jones)--Malaysia's YTL Cement Bhd. (8737.KU) said it will acquire a 32.7% stake in cement company Perak-Hanjoong Simen Sdn. Bhd. for a total cash sum of MYR109.7 million. This comes in addition to a 32.1% stake in Perak-Hanjoong that YTL Cement said it would buy in July for MYR75.2 million. YTL said that completion of the deals would result in Perak-Hanjoong becoming its unit.

Technology group Time dotCom Bhd. (5031.KU) said it will return MYR379.6 million in cash to shareholders, equivalent to 15 sen for every ordinary share with a nominal value of MYR1.00. The payout has been expected in conjunction with Time dotCom's sale of its network sites to Maxis Communications Bhd. (5051.KU) in 2003.

-By Kuala Lumpur Bureau; Dow Jones Newswires; 60-3-2692-5254; djnews.kl@dowjones.com

Later Story:	TABLE: Malaysia's AIC 3Q Losses MYR1.11M Vs MYR2.10M (Dow Jones)
Earlier Story:	DOW JONES GLOBAL INDEXES FOR FRIDAY, NOVEMBER 5, 2004 (Dow Jones)