Board approves restructuring of Malaysian subsidiary shareholding
FISCHER · price
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Board approved restructuring shareholding in Malaysian subsidiary Fischer Hospitality Sdn. Bhd. A Malaysian trustee will hold 51 percent on behalf of the company, while the company directly holds the remaining 49 percent. Audit Committee reviewed and approved. Effective stake rises from 40 percent to 60 percent. The subsidiary is yet to commence business with nil turnover. Cash consideration of RM 40 for 40 shares of RM 1 each.
Restructuring in a non-operating Malaysian subsidiary. Minimal financial impact expected for shareholders in the near term.