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MBM Resources Bhd has offered to buy the entire 100 per cent stake in autoparts manufacturer Hirotako Holdings Bhd for RM412.5 million.

MBM will pay 97 sen each for all 442.34 million shares in Hirotako, together with its warrants at five sen each.

The company told Bursa Malaysia yesterday that the takeover offer was part of its plans to be a complete automotive group.

“The proposed offer is also expected to enable the company to fast track its business expansion by acquiring an existing matured business rather than via organic growth,” MBM added.

Hirotako is mainly involved in the manufacture and sale of automative components which include airbag modules, seat belts, steering wheels, noise and heat reduction materials as well as insulator parts.

Hirotako made a net profit of RM36.4 million on RM195.1 million turnover in the financial year ended December 31 2010.

MBM, among others, manufactures and assembles Perodua vehicles.

The 97 sen offer price represents a premium of nine sen or 10.23 per cent above Hirotako’s closing price of RM0.88 on October 25.

MBM said the takeover offer will be funded by internally-generated funds and bank borrowings.

The company noted that it had received an irrevocable undertaking from a major shareholder of Hirotako, Hiro-Dapat Holdings Sdn Bhd, on October 26 to sell the latter’s entire 99.87 million shares, or 23.8 per cent of the total voting shares in Hirotako.

MBM expects the proposed offer to be completed by the first quarter of 2012.

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Stamford College Bhd will be delisted from Bursa Malaysia after Bursa Securities rejected its application to extend further the deadline to submit its regularisation plan for approval.

In a filing with the exchange, the company said its securities would be removed from Bursa Securities’ official list on Monday next week.

Earlier this month, Stamford College made an application to extend the time to submit its regularisation plan by four months to Feb 4, 2012.

Last year, Bursa Securities had rejected the Practice Note 17 (PN17) company’s proposed regularisation plan which involved the acquisition of a steel manufacturing business.

The rejection was based on concern that the proposal was not sufficiently comprehensive to resolve all problems, financial or otherwise, that had caused Stamford College to trigger the PN17 criteria.

Bursa Securities said the group’s steelmaking business, which only began operation in February 2010, had yet to show that it was able to generate profits and positive cashflows or be proven to be a viable business.

Moreover, the steel manufacturing business depended highly on a single supplier and single customer, which was a related party, to sustain its business operations.

As for the core education business, there was uncertainty whether the profits to be generated from it would be able to sustain the group’s performance.

The company made a net loss of RM1.1mil on revenue of RM4.86mil for the second quarter ended June 30.

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Bina Darulaman Bhd‘s pre-tax profit increased to RM8.3 million in the third quarter ended Sept 30, 2011 from RM2.7 million in the same period last year. The company’s revenue was also higher by 90 per cent to RM70.3 million from RM37 million previously. In a filing to Bursa Malaysia today, it said all core activities of the group performed better, contributing higher revenue and profit margins. Bina Darulaman said for the next three months, the company expects to continue to focus on its existing core business, namely construction and quarry, road construction and property divisions. It said the construction and quarry and road construction divisions will concentrate on completing all ongoing projects as scheduled, while the property division will focus on clearing stocks in various schemes launched during the year.

Spritzer Bhd‘s pre-tax profit decreased to RM2.1 million in the first quarter ended Aug 31, 2011 from RM3.3 million in the same quarter last year. The company’s revenue, however, increased by 18 per cent to RM41.2 million from RM34.8 million, mainly contributed by higher sales of various bottled water products. In a filing to Bursa Malaysia today, Spritzer said profit was lower as the substantial incremental revenue was made up of lower-margin drinking water products. The increase in operating expenses also contributed to the lower profit and the company also incurred higher finance and overhead cost attributed mainly to the recent expansion plan and the setting up of the Shah Alam bottling plant. Spritzer said while the domestic economic outlook has remained positive, the global economic outlook has turned uncertain mainly due to the unresolved European sovereign debt issues. It said the volatility of raw material prices and domestic inflation may pose greater challenges to the company, adding it will continue to focus on improving its productivity and operational efficiency to remain competitive. Spritzer said with the continuous efforts to leverage on its strong brand, the company remains confident that the volumes of its bottled water products will continue to grow.

PLB Engineering Bhd‘s pre-tax profit for the fourth quarter ended Aug 31, 2011, rose to RM3.56 million from RM1.996 million recorded in the same period last year. Revenue for the quarter slipped to RM30.939 million as compared to RM32.812 million in the same quarter last year, it said in a financial statement today.

NCB Holdings Bhd‘s pre-tax profit for the third quarter ended Sept 30, 2011 increased to RM55.64 million from RM54.33 million in the same quarter last year. Revenue rose to RM240.37 million from RM221.72 million previously. In a filing to Bursa Malaysia today, NCB said the increase in revenue was mainly from the expansion of third-party business activities. “There are signs indicating positive growth in these areas during the remaining period of the year,” it said. Looking ahead, NCB said, the competitive environment would continue to exist during the remaining months of the year.

DiGi.Com Bhd, a Malaysian mobile-phone operator, said third-quarter net income rose to RM292.4 million from RM289.3 million. Revenue climbed to RM1.52 billion from RM1.35 billion, it said in a statement in Kuala Lumpur today.

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