MUI’s transformation is anchored on strategy of ‘less is more’

Taking charge: Khoo controls 47.7 of MUI and is in touch with the group’s top management on a weekly basis.

THE proposed sale of Malayan United Industries Bhd’s (MUI) 69.12% stake in Pan Malaysia Holdings Bhd (PM Holdings) for RM77.12mil to Datuk Dr Yu Kuan Chon, the major shareholder of YNH Property Bhd, was seen as a major divestment to pare down MUI’s debts.

But that deal has been in limbo since the Securities Commission (SC) rejected the change in controlling shareholder of PM Holdings’ stockbroking entity that requires the regulator’s nod. Its appeal application has not yielded any resolution to the protracted sale.