Perak Corp shares fall the most in a year

Perak Corp is a substantial shareholder in Integrax Bhd, which owns Lumut Port.

PETALING JAYA: Perak Corp Bhd (PCB) shares fell the most in a year by 22 sen to close at RM3.35 after its major shareholders and persons acting in concert (PAC) with it requested that the company’s privatisation via a selective capital reduction be withdrawn.

The privatisation had to be withdrawn by Perbadanan Kemajuan Negeri Perak, Fast Continent Sdn Bhd, Cherry Blossom Sdn Bhd and Perak Equity Sdn Bhd – the shareholders and PAC – after Sime Darby Property Bhd, which holds a 6.13% total equity interest in PCB or about 13% of the voting shares, said that it would vote against the proposed privatisation plan.