Comintel to give special cash dividend after sale of subsidiary

KUALA LUMPUR: Comintel Corp Bhd will reward shareholders with a special cash dividend after its proposed disposal of wholly-owned subsidiary BCM Electronics Corp Sdn Bhd for a cash consideration of RM123.8mil, subject to the settlement of related party advances, Comintel said in a Bursa announcement.

The buyer is Aurelius Holdings Sdn Bhd, a newly incorporated investment holding company, where Comintel executive director Loh Hock Chiang is also a shareholder of Aurelius. As at 29 August 2017, Loh holds direct interest of 0.07% in Comintel.