MARUICHI Steel Tube Ltd of Japan, a long-time shareholder in Maruichi Malaysia Steel Tube Bhd, could be exiting the local steel pipes and tubes manufacturer and trader after 31 years, going by its sale of two large blocks of shares early in the week.
The Japanese steel maker, a technical partner of and shareholder in Maruichi Malaysia since 1972, is believed to have reduced its stake from 14.8% to less than 1% following the two large off-market share disposals.
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