M'sian billionaire Vincent Tan backs US-listed MOL, shares rebound

PETALING JAYA: MOL Global Inc’s single largest shareholder Tan Sri Vincent Tan Chee Yioun gives his backing to the company’s management, helping to shore up the embattled stock. Shares of MOL Global Inc rebounded sharply, closing 116% higher to US$3.65 (RM12.41) on Tuesday.

“I have the utmost confidence in the management and MOL and none of these unfortunate events alters my very positive view of the underlying business of MOL,” Tan said in a statement which was issued after midnight on Tuesday.