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COMPANY NEWS IN BRIEF: WAH SEONG CORPORATION BHD (WSC).
(From Bernama The Malaysian National News Agency)
WAH SEONG CORPORATION BHD (WSC), announced that its subsidiary, PPSC (HK) Ltd (PPSC (HK)) had inter alia on Oct 1, 2003, via its bankers, Citibank issued a performance bond (PB) for euro 775,599 (equivalent to RM3.475 million) based on the exchange rate of euro/E$1.00 to RM4.48) and an advance payment bond (APB) for euro 755,440 (equivalent to RM3.384 million).
The bonds are in favour of Saipem S.p.A. (Saipem) on behalf of PPSC (HK)'s 50 percent jointly owned company, NC41-LCS Ltd (NC41) pursuant to a subcontract entered into between NC41 and Saipem.
Hong Kong-based PPSC (HK), is an investment holding …
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