LDSD-- On watch and why it is up. Being bought out? Last Friday this news was released:
Malaysia's NasionCom Holdings to buy LeadingSide for 15-20 mln rgt - report
Friday , September 23, 2005 02:11 ET
KUALA LUMPUR (AFX) - NasionCom Holdings Bhd, which will launch a broadband telephone service next month, is taking over a small but profitable information technology (IT) company, LeadingSide (M) Sdn Bhd, Bernama news agency reported, citing unnamed sources.
The report said NasionCom will pay 15-20 mln rgt in cash for a 100 pct stake in LeadingSide and the acquisition is expected to boost the company's profits this year.
The deal is expected to be announced as early as next week.
Under the deal, LeadingSide will guarantee NasionCom a pretax profit of about 2.5-3.0 mln rgt in the first year and up to 5.0 mln rgt in the second year.
The deal will mean that LeadingSide will abort plans for a listing on the Mesdaq Market. the report said.
(1 usd = 3.77 rgt)
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