Shah Alam, May 5 – UMW Holdings Berhad (UMWH) has received shareholder approval to demerge from UMW Oil & Gas Corporation Berhad (UMWOG). Shareholders voted and approved the resolution for the demerger exercise at UMWH’s Extraordinary General Meeting (EGM) this morning.
On 19 January 2017, UMWH announced its plans to exit the Oil & Gas sector through the “distribution in specie” of all its shares in UMWOG to all entitled shareholders of UMWH.
Kuala Lumpur, May 4 – StemLife Bhd, a stem cell bank founded in 2001 and licensed by the Ministry of Health Malaysia under the Private Healthcare Facilities and Services (PHFS) Act 1998 is no longer a counter on Bursa Malaysia stock exchange. StemLife, the pioneer in offering cord blood banking became a listed entity on the MESDAQ (now known as ACE) market in 2006, and has since been in the forefront of medical breakthroughs pertaining to cord blood stem cell and cord lining.
In view of its growth potential in Malaysia, after two rounds of takeover exercises, Cordlife Group Limited (CGL) - which is listed on the Singapore Stock Exchange (SGX) - accumulated more than 90% shareholding in StemLife Berhad by February 2017, resulting it to be taken off the ACE Market listing.
Petaling Jaya, May 3 – Dutch Lady Milk Industries Bhd (Dutch Lady Malaysia) recorded revenue growth of 4.6% from RM1,001.7 million in 2015 to RM1,047.7 million in 2016, while profit-before-tax increased 4.9% versus the previous year from RM188.7 million to 198.0 million. The improvement in profit was mainly contributed by higher sales and improved margin resulting from lower dairy raw materials prices.
For the financial year ended 31 December 2016, the Company paid out a total of RM140.8 million of standard and special interim dividends to its shareholders. The Company also announced yesterday the payment of a one-off extraordinary dividend of 60.0 sen per share to its shareholders.