Sunday, February 5, 2012

DBE Jan 2012

DBE’s director had disposed of 12 million shares on Jan 18, 2012. Ding Seng Huat had disposed of the shares representing a 1.78% stake at an average price of 8.0 sen each. To recap, DBE confirmed that it was in talks with a shareholder of CIH which includes a private placement exercise. DBE also said it had plans for a private placement to raise funds for its working capital requirement but it was at preliminary stage.

Sources say three parties are interested to take over DBE Gurney Resources Bhd, a poultry breeder, in a bid to return the company to profitability. Besides CI Holdings Bhd, the other parties interested in DBE are Datuk Raymond Chan Boon Siew, the controlling stakeholder of Sagajuta ( Sabah ) Sdn Bhd, and Maybank Private Equity. Chan, a prominent Sabah developer, has been buying shares in DBE from the open market and now controls about 4.0 per cent stake of the company.

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