Bank Guarantee Scheme Stirs Hornets Nest
Allaying fears of Indian travel agents over the bank guarantee for visas, Malaysian Tourism Promotion Board (MTPB) on Tuesday said it would convey their views against the new system to the country's immigration department. There were many reasons for introducing the guarantee, but "there is no question of penalising them (agents) for a case concerned with the passenger," MTPB deputy director general Mirza Mohammed Tayib told reporters in Chennai.
Rajesh Exports Net Leaps To Rs 27 Cr
Gold jewellery manaufacturer and exporter Rajesh Exports Limited has recorded net sales of Rs 3050.14 crore for the year 2003-04, up from Rs 224.53 crore posted during the last fiscal year. The company has posted a net profit of Rs 27.31 crore (Rs 7.37 crore) during the period under reivew, a company release said.
The Greater Mysore Chamber of Industry (GMCI) has elected managing director of Bhoruka Power Corporation Limited S Chandrasekhar as its president for the year 2004-05. Mphasis Technologies president (technology division) Anant R Koppar has been elected vice-president. The elections were made during the 27th annual general meeting of GMCI on Tuesday, a release said.
Opto Circuits Board Recommends Bonus Shares
The board of directors of Opto Circuits India Ltd has recommended a bonus of three shares for every 10 fully paid-up shares. It has also announced a dividend of 30 per cent for the year ended March 31, 2004. The company has reported total sales of Rs 58.52 crore, an increase of 54 per cent. Profit after tax stood at Rs 13.02 crore (Rs 7.39 crore), a growth of 76 per cent. For the fourth quarter, the company has reported a total sales of Rs 19.09 crore, a 26 per cent increase over the previous financial year.
Rs 18.45 Cr For Clean-Pampa Project
The Centre has sanctioned Rs 18.45 crore for the initial works as part of the scheme submitted by Kerala to de-pollute river Pampa, state water resources minister T M Jacob said. The amount, sanctioned as part of Rs 319.70 crore project drawn up by the state, was meant for 12 items of work mostly comprising cleaning up the stretch of the river close to the Sabarimala shrine, Mr Jacob told the assembly.