Fu Yu to privatise LCTH for $20.3 mil via selective capital repayment

SINGAPORE (Dec 8): Fu Yu Corporation, the manufacturer of precision plastic components, plans to privatise its subsidiary, LCTH Corporation, through a selective capital repayment exercise (SCR) valued at around RM61.3 million ($20.3 million).

LCTH is listed on Bursa Malaysia and focuses on the precision manufacturing of tools and plastic products in Malaysia. As at 6 Dec, it has a share capital of RM169.9 million comprising 360 million ordinary shares, of which about 254.3 million are owned by Fu Yu to represent an equity interest of 70.64%.

The proposed SCR involves LCTH undertaking a selective capital reduction and a corresponding capital repayment in respect of the LCTH shares held by all shareholders of LCTH other than Fu Yu, who own the remaining 29.36% stake in the subsidiary.

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