The Alchemist wrote:
Anyway sorry Alchemist for hijacking this thread. Any news on my question on Carsons and Bukit?
What do you want to know James
Have you got the old shareholder register of Carson related firms? Love to know who bought who first .... Was it Bukit or Carsons?
I suspect Bukit was initially controlled and then it bought Carsons .... that is instead of giving funds to minority shareholders it solidified the strength of a controlling shareholder
No, I dont have any old shareholder register of Cars & Buki.
What i know is the following -
Carsons 60-70 % & RIT 20-30 % owned the original 5 Malaysian Palm Oil Estate Companies i.e. Selinsing, Goodhope, Indo-Malay, Shalimar-Malay & Bukit Darah.
Shalimar Malay owned approx 40 % of Carsons & Bukit Darah owned approx 20 % of Carsons, through its wholly held subsidiary Federal Securities.
In 1996, The above 5 companies (along with Carsons) formed an Investment Company called Shalimar Developments Bhnd registered in Indonesia and invested & ventured out into Indonesia and started their first Plantation called PT Agro Indomas.
In 2003, Bukit Darah sold its Malaysian estate for approx usd 35 Million and invested part money in another plantation in Indonesia called PT Agro Bukit (along with Shalimar Developments). At the same time, Shalimar Malay sold its 40 % stake in Carsons part to Buki and Part to Selvanathan Holding Companies.
In 2009, RIT sold its (20-30 %) stakes in Selinsing, Indo-Malay, Shalimar & Goodhope to newly formed Singapore Plantation Holding Company called GoodHope Asia Holdings (GHAHL).
Buki & Carsons also transferred all their plantation holding shares to Goodhope Asia in exchange for shares.
Now, GHAHL is the Groups Plantation Holding Company.
Carsons owns approx 53 % of GHAHL, Buki owns 35 %, and Rim Capital owns 12 %.
Buki owns approx 45 % of Carsons.
RIT owns 20.2 % of Buki
Guar & Cinv owns 100 % of RIT. (Guar owns 64 % of Cinv)
Carsons owns 67 % of Guar.