Malaysian Bulk Carriers Bhd (Maybulk), a shipping company controlled by billionaire Robert Kuok, said it plans to buy back its own shares to raise its stock price as it has lagged gains made by its competitors.
Shares of Maybulk have gained 36% since they began trading on Bursa Malaysia 11 months ago. The shares of Excel Maritime Carriers Ltd in the US have risen seven-fold since the start of this year and Oslo-listed Olfjell ASA has more than doubled.
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