KUALA LUMPUR (Oct 15): Property developer Mah Sing Group Bhd, which also makes plastic products, may list its manufacturing division separately to further unlock the segment’s value, group managing director and chief executive Tan Sri Leong Hoy Kum said today.
At a virtual press conference today in conjunction with Mah Sing's announcement on its planned diversification into glove manufacturing, Leong said Mah Sing is exploring "the possibility of listing [its] manufacturing division separately from the group to further unlock its value in the future”.
He did not elaborate.
According to Mah Sing’s latest annual report, the company operates its plastics division via 100%-owned subsidiaries Mah Sing Plastics Industries Sdn Bhd and Vital Routes Sdn Bhd.
Vital Routes owns a 65% stake in PT Mah Sing Indonesia, the report said.
On Bursa Malaysia today, Mah Sing rose two sen or 2.76% to 74.5 sen at 3:09pm for a market value of about RM1.81 billion. The stock saw some 88 million shares traded.