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Tuesday, September 1, 2009

Malaysian Mosaic May Be Taken Private (OSK)

The manufacturer Malaysian Mosaic may be taken private by its major shareholder Gek Poh (Holdings) SB in a move to unlock the value in the company, sources said. It is understood that in turn, one of the options posttakeover for the major shareholder is to inject the tile maker into Hap Seng Consolidated to streamline its holdings. Sabah based Gek Poh, founded the late timber tycoon Tan Sri Lau Gek Poh, has a 65% stake in Malaysian Mosaics and a 55.6% stake in Hap Seng Consolidated. (Malaysian Reserve)

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