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)