Thursday, August 02, 2012

Multico gets RM44.19 million.

The High Court has ruled in favor of Multico against 11 defendants, including its former directors.
The defendants are Gordon Toh Chun Toh (first defendant), Datuk Abul Hasan Mohamed Rashid (second defendant), Kalwant Singh (third defendant), Elliott Gordon Singapore Pte Ltd (fourth defendant), Elliott Gordon & Co International Ltd (fifth defendant) and Ace Prelude Holdings Sdn Bhd (sixth defendant).
The other defendants were Lily Chong Kui Foh (seventh defendant), Teng Sin Pyng (eighth defendant), Westcape Investments Ltd (ninth defendant), Wong Jit Kiang (10th defendant) and Liew Then Boh (11th defendant).
Multico has a small paid-up capital of only RM44.4047. The par value of its stock is RM1 per share. This means that for the fiscal year ending July 31, 2013, the NTA per share as well as the EPS of the company will be boosted by 99.5 sen. This is in deed a windfall for Multico!
The stock was up 38 sen yesterday. It closed at RM1.60. Another good rise is expected today.
My congratulations to Multico and all its shareholders.