MUIIND (3891) - MUI shares attract trading interest


KUALA LUMPUR: Shares in Malayan United Industries Bhd (MUI) continued to attract strong interest on Friday as Tan Sri Khoo Kay Peng is believed to have received offer for his stake in the company.

StarBiz reported today that a local party was understood to be interested in taking over Khoo’s stake in MUI, an asset-rich company with businesses in real estate, hotels, retail, financial services as well as food and confectionery.

“A strong local personality is keen on the takeover and has hired financial advisory firms to approach Khoo, who has been out of the public limelight for several years now,” said a source.

MUI added 4.08%, or one sen to 25.5 sen. It is the most traded stocks in early trade with over 22.5 million shares exchanged hands.

Last week, Starbiz reported that billionaire entrepreneur Wong Thean Soon better known as TS Wong has emerged in the shareholder list of MUI.

MUI’s annual report showed that Wong has a smallish stake of less than 1% in the company.

Wong is well known for his position as the managing director and single largest shareholder of MyEG Services Bhd.

Besides Wong, Datuk Jayakumar Paneer Selvam, said to be an investor linked to Wong, has also surfaced as a shareholder in MUI.