Ajinomoto yet to decide on award

  • Business
  • Thursday, 01 Dec 2016

Ajinomoto attributed its better results to higher domestic sales and better margins from export sales arising from the appreciation in US dollar.

PETALING JAYA: AJINOMOTO (M) BHD has yet to make a decision on whether or not to accept a compensation award from the Kuala Lumpur land administrator.

In a filing with Bursa Malaysia yesterday, it explained that it would be premature at this juncture for the board to confirm the intended usage of the proceeds, which include, inter alia, the amount of dividend to be declared to the shareholders arising from the acceptance of the compensation award.

It was reported in StarBiz yesterday that part of Ajinomoto’s land in Jalan Kuchai Lama would be acquired by the Government for the construction of the Mass Rapid Transit Line 2 (MRT2) project. On Nov 24, Ajinomoto had received a notice of award from the Kuala Lumpur land administrator for the total compensation amounting to RM165.99mil in cash for 7.58 acres that house one of its plants.

Ajinomoto has until this month to decide on the land acquisition price offered by the Government, which Ajinomoto managing director and chief executive officer Keiji Kaneko said the board would deliberate on in mid-December.

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