Companies in the Permodalan Nasional Bhd (PNB) stable such as MNRB Holdings, Bonia Corp and Asia File Corp may be up for sale. This is following an announcement by the Government that PNB and Khazanah Nasional would each divest five companies as part of a strategy to increase bumiputra participation in the corporate sector. The loss-making MNRB could be a target for divestment since whoever gets the PNB stake would be in control of the company. (Star Biz)
Asia File’s major shareholder, the Lim family owns more than 50% stake in the company whereas PNB’s stake is only at 26.5%. As such, any party that buys PNB’s stake in Asia File cannot get management control of the company.
Asia File’s major shareholder, the Lim family owns more than 50% stake in the company whereas PNB’s stake is only at 26.5%. As such, any party that buys PNB’s stake in Asia File cannot get management control of the company.
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