MUMBAI: The Board of Trustees of Canbank Mutual Fund have decided to extend the duration of Canbonus scheme beyond the earlier date of July 1, 1998. The trustees have decided to extended repurchase facility to the unitholders of Canbonus scheme as follows: unitholders holding upto and including 500 units (per folio) to the extent of 100 per cent and for more than 500 units, 10 per cent of the holding subject to minimum of 500 units rounded off to the nearest 100 units.

The repurchase facility will commence from August 3. It has also proposed, subject to the approval of SEBI, to convert the Canbonus scheme into an open ended scheme with effect from May 3, 1998. Unitholders who do not consent to the continue their holding under the proposed open ended scheme, however, will be provided with an option to redeem their unite in full.

Kale Consultants

MUMBAI: Kale Consultants, recently signed a contract for supply of its renowned Airline Passenger Revenue Accouting Sofware-Praxis-toTransportes Aereos De Cabo Verde (TACV) EP poplularly known as Cabo Verde Airlines. Based in Republic of Cano Verde, the airline caters to both domestic and international traffic.

Renaissance

MUMBAI: Renaissance Worldwide Inc, recently recognized as one of the world's 30 largest consulting firms, has set up its India operations. This announcement was made recently by Sanjiv Anand, head of India/South Asia Operations, and Rick Peel, head of international operations (strategy group) at a special function organized by the Harvard Business School Aluimni Association of India in Mumbai.

Sintex Industries

MUMBAI: Sintex Industries recorded a net profit of Rs 10.23 crore for the year ended March 1998, thus registering a 62 per cent increase over the net profit of Rs 6.30 crore recorded last year. The gross turnover amounted to Rs 188.92 crore, which is 12 per cent higher (Rs 168.13 crore). The company has earned a gross profit of Rs 20.64 crore against Rs 14 crore.