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Article: MALAYSIA'S BERNAS TO BUY BACK PART OF SHARES OWNED BY HONG KONG CO.
- Article from:
- AsiaPulse News
- Article date:
- August 3, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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KOTA BAHARU (Malaysia), Aug 3 Asia Pulse - Malaysian company Padiberas Nasional Bhd (Bernas) (KLSE:6866) plans to buy back part of the 31 per cent equity shares held by Hong Kong company, Wang Tak Co. Ltd.
Minister of International Trade and Industry Mustapa Mohamed said Bernas had personally relayed its intention to buy back the shares from the foreign company as a move in keeping with the company's role as the national rice supplier.
"This, however, does not mean that the government intends to restrict the entry of foreign investment. Infact, the government encourages the entry of foreign investments," he said.
As for Bernas issue, it was a ...