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Thursday, November 27, 2014

Kian Joo to sell business for RM1.46b


KUALA LUMPUR: Kian Joo Can Factory Bhd is disposing of its entire business, including assets and liabilities, to Aspire Insight Sdn Bhd for RM1.46 billion. In a filing to Bursa Malaysia yesterday, it said the amount translated to about RM3.30 per ordinary share of 25 sen each in Kian Joo. The company said distribution of the proceeds to the shareholders would be in cash not less than RM3.30 apiece via proposed capital reduction and repayment exercise.

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