CIH may pay RM4 per share as dividend from Permanis sale

KUALA LUMPUR: C.I. HOLDINGS BHD [] (CIH) expects to conclude the disposal of its beverage subsidiary Permanis Sdn Bhd (Permanis) to Japan's Asahi Group Holdings Ltd (Asahi) within one or two weeks and expects to pay a minimum of RM4 per share in the form of special dividend to its shareholders.

Group managing director Datuk Johari Abdul Ghani said on Thursday, Oct 27 CIH was looking to acquire a company with potential but weak management.

"At this moment, I think we will distribute a minimum of RM4 to shareholders back so that will leave about RM200 million over.

“So with that money we will try (to acquire a new business), but if we cannot find anything concrete in the future, we may distribute back to shareholders in the form of capital repayment or special dividend," he told reporters after the AGM.

On July 21, CIH signed an agreement with Asahi for the disposal of Permanis for an acquisition price of RM820 million in cash, representing 70 million shares. - Bernama