PETALING JAYA: Johor Corp Bhd (JCorp) and Retirement Fund Inc (KWAP) have increased their stakes in Kulim (M) Bhd, which recently announced that it intended to dispose of its 48.97% stake in New Britain Palm Oil Ltd to Sime Darby Bhd
for an estimated £525.40mil (RM2.75bil).
In a filing with Bursa Malaysia yesterday, Kulim disclosed that its parent JCorp, which is also the investment arm of the Johor state government, had increased its stake in the company last week by purchasing an additional 145,000 shares in Kulim, taking its total shares in Kulim to 774.35 million shares. Based on Kulim’s latest reported issued share base of 1.29 billion shares, JCorp’s stake is about 60% in Kulim.
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