5. CEO: Ranhill will stick to core business

CEO: Ranhill will stick to core business KUALA LUMPUR: Ranhill Bhd will continue to stick to its core businesses of water treatment and power generation after the privatisation of listed subsidiary, Ranhill Utilities Bhd. President and chief executive officer Tan Sri Hamdan Mohamad said the company would continue in these core businesses because it had expertise in these areas. “We'll continue with the water business because we're the best water company in the country,” he said, adding that there would be no diversification into other sectors. Hamdan was speaking yesterday after the company's EGM, where shareholders of Ranhill approved the voluntary privatisation of Ranhill Utilities for RM3.50 a share. Ranhill Utilities is 70% owned by Ranhill and 0.39% by LOSB Cayman Ltd. LOSB Cayman, a unit of Lambang Optima Sdn Bhd, will... [read full story]