Lien Hoe sells 19.29% of Perduren for RM26m

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Lien Hoe sells 19.29% of Perduren for RM26m

Written by Joseph Chin

Thursday, 29 April 2010 13:57

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KUALA LUMPUR: LIEN HOE CORPORATION BHD [] disposed of a 19.29% stake in PERDUREN (M) BHD [] for RM26 million.

It said on Thursday, April 29 it disposed of the stake, comprising of 26 million shares, at RM1 each. The shares were disposed off-market.

The disposal reduced its stake in Perduren to 15.329 million shares or 11.37%.

Lien Hoe had, from June 2007 to August 2009, acquired 30.66% in Perduren or 41.329 million shares for RM35.59 million or 86 sen per share.

The carrying value of the Perduren shares in the company's latest audited financial statements as at Dec 31, was RM22.39 million.

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Last Updated on Thursday, 29 April 2010 14:00

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