Media Chinese Intl, RSawit see off-market trades


  • Corporate News
  • Friday, 14 Feb 2020

Media Chinese International Ltd (MCIL) and Rimbunan Sawit Bhd (Rsawit) saw their shares transacted in off-market deals on Friday, which were significantly below their closing prices on Thursday.

KUALA LUMPUR: MEDIA CHINESE INTERNATIONAL LTD (MCIL) and RIMBUNAN SAWIT BHD (Rsawit) saw their shares transacted in off-market deals on Friday, which were significantly below their closing prices on Thursday.

Stock market data showed that 39.4 million shares of MCIL were transacted at eight sen each, or 13 sen below the closing price of 21 sen on Thursday.

The shares accounted for 2.3% of the issued shares of 1.687 billion units.

As for plantation company RSawit, there were 25.95 million shares traded off market at 16 sen each or 14.5 sen below Thursday's close of 30.5 sen.

The 25.95 million shares accounted for 1.83% of its issued shares of 1.418 billion units.

MCIL and RSawit have some common shareholders. MCIL is a publisher of Chinese-language newspapers in Hong Kong, Malaysia, the US and also Canada and China.

In MCIL, Progresif Growth Sdn Bhd owns 17.57% and CONCH Co. Ltd 15.05% while Tan Sri Tiong Hiew King has a direct stake of 5.12% and Teck Sing Lik Enterprise 3.87%.

He is the chairman of MCIL and also the founder and chairman of the Rimbunan Hijau Group, a timber company which owns 0.92% of MCIL.

Tiong also hold a 0.17% direct stake in RSawit. The major shareholders are Tiong Toh Siong Holdings Sdn Bhd with a a 18.16%, Multi Greenview Sdn Bhd 9.87% and Rimbunan Hijau Southeast Asia 8.05% while Teck Sing Lik Enterprise 6.72%.

Tiong is the executive chairman of Rimbunan Hijau Group.


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