KUALA LUMPUR: ESSO MALAYSIA BHD [] chairman Hugh Thompson today said the company's board has received no indication from its major shareholder ExxonMobil International Holdings Inc to divest part or all of its 65% stake.
The Edge had earlier reported that BOUSTEAD HOLDINGS BHD [] and its parent company Lembaga Tabung Haji were eyeing Exxonmobil International's 65% controlling stake, comprising of 175.5 million shares, in Esso Malaysia.
"We are aware of the news reports. There are no indications from ExxonMobil International that they are going to change their shareholding in Esso Malaysia in a dramatic way at this point," Thompson told reporters after Esso Malaysia's annual general meeting today.
Esso Malaysia shares have attracted strong investor interest following market talk about the potential takeover by Boustead and the recent release of Esso Malaysia's 1QFY11 results.
Esso Malaysia's stock price surged to a new 13-year high on Tuesday, gaining 58 sen or 11% to close at RM5.84. Its share price has doubled year-to-date, starting off the year at RM2.74.
As at noon today, Esso Malaysia's shares were trading at RM5.67.
Commenting on the company's outlook, Thompson said Esso Malaysia remains cautious given the volatility of crude oil prices and is striving to manage the company's fundamentals.
The Edge had earlier reported that BOUSTEAD HOLDINGS BHD [] and its parent company Lembaga Tabung Haji were eyeing Exxonmobil International's 65% controlling stake, comprising of 175.5 million shares, in Esso Malaysia.
"We are aware of the news reports. There are no indications from ExxonMobil International that they are going to change their shareholding in Esso Malaysia in a dramatic way at this point," Thompson told reporters after Esso Malaysia's annual general meeting today.
Esso Malaysia shares have attracted strong investor interest following market talk about the potential takeover by Boustead and the recent release of Esso Malaysia's 1QFY11 results.
Esso Malaysia's stock price surged to a new 13-year high on Tuesday, gaining 58 sen or 11% to close at RM5.84. Its share price has doubled year-to-date, starting off the year at RM2.74.
As at noon today, Esso Malaysia's shares were trading at RM5.67.
Commenting on the company's outlook, Thompson said Esso Malaysia remains cautious given the volatility of crude oil prices and is striving to manage the company's fundamentals.
No comments:
Post a Comment