CCM chief defends demerger exercise

KUALA LUMPUR: Chemical Company of Malaysia Bhd’s (CCM) head honcho has defended the company’s demerger exercise as one that will not result in any losses to shareholders.

Speaking to reporters at a briefing here yesterday, CCM group managing director Leonard Ariff Abdul Shatar acknowledged that it would take time for the market to digest the recently announced corporate exercise to de-gear and demerge from its profit-making pharmaceutical unit CCM Duopharma Biotech Bhd.