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Thursday July 5, 2012
OCBC no longer major investor in Muhibbah
PETALING JAYA: Singapore-based OCBC Bank has ceased to be a substantial shareholder in Muhibbah Engineering Bhd after disposing of 9.18 million shares in the latter, a filing with Bursa Malaysia showed.
According to Bloomberg data, the bank had a 5.46% stake of 22 million shares in the company as at June 26.
Last month, CIMB Bank Bhd pulled out from a debt restructuring scheme for Asia Petroleum Hub Sdn Bhd, delaying the latter’s payment for construction works done by Muhibbah.
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