KUALA LUMPUR: Mulpha International Bhd has proposed to distribute its entire stake in Mudajaya Group Bhd to its shareholders as dividend.

Under the proposed dividend-in-specie exercise, Mulpha will return 90.32 million shares in Mudajaya on a basis of one Mudajaya share for every 3.537 Mulpha shares held at a date to be determined later.

Mulpha, in a filing with Bursa Malaysia on Friday, said it expects to complete the proposed payout by the first quarter of 2019. The indicative value per dividend share is 40 sen, based on the five-market day volume weighted average share price of Mudajaya. 

In recent years, Mulpha has been streamlining its focus on its existing core businesses in the real estate, hospitality, retirement and education sectors and undertaking a gradual and orderly disposal of its other non-core investments.

...

Full Article on TheStar