23-08-2007
KUALA LUMPUR: IOI Corporation Bhd opened 36 sen higher to RM5.30 this morning, buoyed by record earnings for the financial year ended June 30, 2007 (FY07) and the company's announcement of a capital repayment. The counter hit a high of 41 sen before easing off to trade at RM5.25 at 10.00am, with 4 million shares done. The company yesterday announced a capital repayment on the basis of a cash distribution of RM4.20 for each cancelled share, on the basis of one cancelled share for every 20 existing shares. On Tuesday, IOI Corp reported its highest earnings ever with a net profit of RM1.48 billion for the financial year ended June 30, 2007 (FY07), boosted by record earnings from the palm oil and property business segments.
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