In a rare move by any company, Hibiscus announced that managing director and major shareholder Kenneth Pereira (pic)declared his intention to participate in the book-building exercise that would see him put in between RM8mil and RM50mil of his own money to buy up to 50 million convertible redeemable preference shares. The board of Hibiscus, apart from Pereira, believes his offer was in the best interests of the company.
Why the penchant for money lending?
There seems to be a trend for companies to go into the money-lending business.
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