Yeoh fined and reprimanded by SC, Can-One launches takeover of KJCF

Companies that provide short-term consumer loans at high interest rates are on the increase in countries like Indonesia and the Philippines as many people struggle to get advances through traditional channels such as banks.

KUALA LUMPUR: Prominent businessman Yeoh Jin Hoe’s latest attempt to consolidate the business of the country’s top packaging can producers got off to a rocky start.

Can-One Bhd, in a filing with Bursa Malaysia today, said Yeoh and his partners were reprimanded and fined by the Securities Commission for failing to undertake a mandatory general offer to buy out minority shareholders in Kian Joo Can Factory Bhd (KJCF) after their shareholding in the company increased above the 33% threshold.