Read more: http://www.btimes.com.my/articles/20111229010952/Article/
Kian Joo would pay RM3.20 a share for the remaining shares it does not own in its profitable corrugated carton boxes manufacturing unit, they said. Meanwhile, Box-Pak shares were the second top gainer on Bursa Malaysia yesterday. The stock soared 37 sen to close at RM2.47 with 2.81 million shares traded. At RM2.47, its market capitalisation stood at RM148.26 million. Year-to-date, Box-Pak has gained 107.56 per cent or RM1.28, with a low of RM1.09 on March 16 this year. Kian Joo Can owns 32.91 million shares, or a 54.83 per cent stake, in Box-Pak. Another single largest shareholder is Amanah Saham Bumiputera Bhd with 3.1 million shares or a 5.16 per cent stake. The sources said Kian Joo Can had hired Maybank Investment Bank Bhd to handle the privatisation deal. Kian Joo Can executive director Datuk Anthony See Teow Guan, when contacted yesterday, denied that it was planning such privatisation. "No, there's no truth in it. I don't know who spread the rumours," said See, who is also managing director of Box-Pak. Besides corrugated carton boxes, Box-Pak also manufactures and sells die-cut trays, wrap-around cartons, Point of Purchase (POP) and paper palette for use in the packaging industry. The company was incorporated in December 1974 and listed on the local bourse on July 18 1996. Box-Pak nearly doubled its net profit in the first nine months ended September 30 2011 to RM10.35 million, from RM5.79 million net profit a year ago. The company attributed the improved profit to higher revenue and better production efficiency. Group revenue rose to RM178.39 million during the period, up from RM134.73 million previously.
Kian Joo would pay RM3.20 a share for the remaining shares it does not own in its profitable corrugated carton boxes manufacturing unit, they said. Meanwhile, Box-Pak shares were the second top gainer on Bursa Malaysia yesterday. The stock soared 37 sen to close at RM2.47 with 2.81 million shares traded. At RM2.47, its market capitalisation stood at RM148.26 million. Year-to-date, Box-Pak has gained 107.56 per cent or RM1.28, with a low of RM1.09 on March 16 this year. Kian Joo Can owns 32.91 million shares, or a 54.83 per cent stake, in Box-Pak. Another single largest shareholder is Amanah Saham Bumiputera Bhd with 3.1 million shares or a 5.16 per cent stake. The sources said Kian Joo Can had hired Maybank Investment Bank Bhd to handle the privatisation deal. Kian Joo Can executive director Datuk Anthony See Teow Guan, when contacted yesterday, denied that it was planning such privatisation. "No, there's no truth in it. I don't know who spread the rumours," said See, who is also managing director of Box-Pak. Besides corrugated carton boxes, Box-Pak also manufactures and sells die-cut trays, wrap-around cartons, Point of Purchase (POP) and paper palette for use in the packaging industry. The company was incorporated in December 1974 and listed on the local bourse on July 18 1996. Box-Pak nearly doubled its net profit in the first nine months ended September 30 2011 to RM10.35 million, from RM5.79 million net profit a year ago. The company attributed the improved profit to higher revenue and better production efficiency. Group revenue rose to RM178.39 million during the period, up from RM134.73 million previously.
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