BHIC/Bstead jan 2012

BHIC/Bstead: BHIC reiterated that it has not received any indication or direction from its shareholders with regards to any major acquisition of shares in the company. Boustead Holdings Bhd is the major shareholder of BHIC. Earlier market talk of a possible privatization of BHIC. According to reports, while BHIC’s parent Bstead denied talks that it was planning to privatize the former, it then emerged that LTAT could be the vehicle to be used. LTAT’s chief executive did not denied the possibility of the Armed Forces fund taking BHIC private. However, the matter would have to be collectively deliberated on by LTAT’s board of directors. LTAT holds direct 8.15% stake in the company and indirect stake of 65% via Bstead. BHIC’s net asset per share as end of Sept 2011 was rm1.71.