Analabs buys RM12.6m worth of Maybank shares for dividend, capital gains

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KUALA LUMPUR (Sept 7): Analabs Resources Bhd said today it has acquired shares of Malayan Banking Bhd (Maybank) amounting to RM12.56 million, with the intention of deriving dividend income and for potential capital gains.

The purchase accounted for 5.03% of Analabs' audited consolidated net assets as at April 30, 2018.

In a filing with Bursa Malaysia today, Analabs said the shares were acquired in the open market between June 2 and Sept 7.

The acquisition was funded by Analabs' internal funds, it added.

Analabs said the acquisition has no material effect on the group's earnings per share and net assets per share for the financial year ending April 30, 2019.

Shares of Analabs closed up three sen or 1.19% at RM2.56 today, for a market capitalisation of RM139.46 million.