Malaysian Mosaic: To be privatised?

Main  board-listed maker  and  trader  of mosaic  and  ceramic  tiles Malaysian Mosaic Bhd  (MMosaic) may  soon  be  taken private. While details of  the price or  terms of a privatisation exercise were not available at press time, it is worth nothing that  the  stock  is  trading  at  about  half  its  net  tangible  assets  value.  The  company’s  largest  shareholder  is  Gek  Poh (Holdings) Sdn Bhd, a private entity controlled by Datuk Seri Panglima Lau Cho Kun. As at 31 Mar 2010, Gek Poh held a 73.07%  direct  and  indirect  stake  in MMosaics. Gek  Poh  is  also  the  holding  company  of Hap  Seng Consolidated  Bhd. (Financial Daily)