Monday, 16 November 2020
Kumpulan Perangsang Selangor Berhad Dismisses Rumours About Privatisation Move
Shah Alam, Malaysia, 16 November 2020 – Kumpulan Perangsang Selangor Berhad (“KPS” or “the Company” or “the Group”, Bursa: 5843; Bloomberg: KUPS MK; Reuters: KPSB.KL) said today that the rumours alleging Darul Ehsan Investment Group (“DEIG”)’s plans to privatise Kumpulan Perangsang Selangor Berhad are uncorroborated, as KPS had no knowledge about the Company returning to private ownership. The statement from KPS came after claims of privatisation circulated on online platforms including that of the Edge Malaysia on 13 November 2020.
“The Company wishes to clarify that it has not received any notification for any privatisation proposal,” it noted in an exchange filing to Bursa Malaysia Securities Berhad (“Bursa Securities”) today.
KPS’ Managing Director/Group Chief Executive Officer, Ahmad Fariz Hassan said:
“It is business as usual for us, focusing on strengthening our strategic focus and position, with comprehensive value creation plans laid out to sustainably grow KPS and its subsidiaries. We have no knowledge of the rumoured privatisation move. Therefore, the market speculation and rumours on the alleged moves to delist KPS from the Main Market of Bursa Malaysia Securities Berhad and take it private are unsubstantiated.”
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About Kumpulan Perangsang Selangor Berhad (www.kps.com.my)
Incorporated on 11 August 1975, Kumpulan Perangsang Selangor Berhad (“KPS” or “the Company” or “the Group”) is a public limited liability company listed on the Main Market of Bursa Malaysia Securities Berhad under the Industrial Products & Services Sector. KPS has core investments in the Manufacturing sector, as well as businesses in the Trading, Licensing, and Infrastructure sectors. While strengthening our business to optimise returns, KPS is committed to providing significant contributions towards sustainable development in the areas of economic, environmental, and social for the benefits of all stakeholders.
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