Latest news with #RM11.7mil
The Star
04-07-2025
- Business
- The Star
A1 AK Koh's IPO oversubscribed
PETALING JAYA: A1 AK Koh Group Bhd's initial public offering (IPO) has been oversubscribed by 0.11 times ahead of its listing on the ACE Market of Bursa Malaysia on July 11. The processed food and beverage producer received 2,289 applications from the public for 46.8 million shares worth RM11.7mil, representing a subscription rate of 1.11 times. For the bumiputra portion, 441 applications were received for about 4.1 million shares, with the remaining shares reclaimed and reallocated to the other Malaysian public. Meanwhile, the other Malaysian public submitted 1,848 applications for about 42.7 million shares, resulting in a subscription rate of 2.03 times. All 8.4 million issue shares offered to eligible persons have also been fully subscribed.
The Star
03-07-2025
- Business
- The Star
A1 AK Koh's IPO oversubscribed by 1.11 times
KUALA LUMPUR: A1 AK Koh Group Bhd's (A1 AKK) initial public offering (IPO) has been oversubscribed by 1.11 times ahead of its listing on the ACE Market of Bursa Malaysia on July 11. The processed food and beverage producer received 2,289 applications from the Malaysian public for 46.8 million shares worth RM11.7mil, representing a subscription rate of 1.11 times. For the Bumiputera Malaysian public portion, 441 applications were received for about 4.1 million shares, with the remaining shares reclaimed and reallocated to the other Malaysian public. Meanwhile, the other Malaysian public submitted 1,848 applications for about 42.7 million shares, resulting in a subscription rate of 2.03 times. All 8.4 million issue shares offered to eligible persons have also been fully subscribed. AmInvestment Bank Bhd, the placement agent, confirmed that 58.8 million issue shares and 109.2 million offer shares were fully placed to approved Bumiputera, institutional, and selected investors, following the clawback and reallocation rules in A1 AKK's June 18, 2025 prospectus. AmInvestment Bank is the principal adviser, sponsor, underwriter and placement agent for the IPO.
The Star
21-04-2025
- Business
- The Star
Only 10% of Teachers Provident Fund contributors have retrieved unclaimed funds
KUALA LUMPUR: Only 10% of former teachers who contributed to the Teachers Provident Fund (KWSG) between 1962 and 1972 have come forward to retrieve their unclaimed money from the Accountant General's Department as of April 2025. Tun Hussein Onn Teachers' Foundation chief executive officer, Zahiruddin Mohammad Hanif, said this figure represents 185 former teachers or their heirs who have made claims. As a result, the unclaimed funds under the Unified Teachers Service (UTS) scheme have decreased to RM11.7mil from RM13.58mil in 2018, he said. "Since the announcement in 2018, not many heirs have come forward. Out of 1,910 contributors, 1,725 have yet to make a claim. So far, fewer than 200 individuals have come forward, which is only about 10%. "The contributors were UTS teachers who served between 1962 and 1972. They are not recipients of government pensions," he said. He dismissed recent claims circulating online that the unclaimed KWSG contributions of former UTS teachers have reached RM135mil. Zahiruddin explained that contributions categorised as unclaimed funds remain with the Accountant General's Department, and may still be retrieved at any time. Commenting on the delay in claims, he said many families were unaware their relatives had contributed to the fund, and outdated contact information makes it difficult for the foundation to reach them. "It's not that the families are intentionally delaying, but many simply don't know. The addresses we have are outdated, so notification letters are often returned. Without current contact details, we have no way of locating the contributors," he said. Zahiruddin added that the foundation will issue another media statement soon to encourage eligible next of kin to come forward and claim the funds at any time. He said contributors or their next of kin may initiate claims at the Accountant General's Department, which will verify their status with the foundation. Eligible individuals may check their status at or contact the foundation at 03-8890 2427. Zahiruddin said that the verification process is important to prevent misuse or fraudulent claims, emphasising that the foundation has not appointed any third parties or agents to manage the claims process. "The list of contributors can be checked via a link uploaded on the Tun Hussein Onn Teachers' Foundation official channels. That's the only authorised way to verify names. "We've decided not to publish the names in media releases to prevent any risk of exploitation," he said. In 2018, Zahiruddin reported that the total amount of unclaimed contributions in the KWSG stood at RM13.58mil, involving 1,910 contributors who served as teachers since the 1950s. - Bernama
