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Three newcomers debuted on the list, ...
Three newcomers debuted on the list, notably Ninian Mogan Lourdenadin, a doctor turned retail magnate who is ranked at No. 22 with a US$500 million net worth.
He is Group CEO of MBF Holdings and runs a property, retail, leisure and medical services business empire that stretch from Malaysia to Fiji, Papua New Guinea and Australia.
Ninian Mogan ...
Ninian Mogan LourdenadinGroup Chief Executive Officer, Executive DirectorMBf Holdings Berhad
KC5UYW.com :: Amateur Radio, Diving, News, Weather and More ...
MBF HOLDINGS Bhd has appointed Dr Ninian Mogan Lourdenadin as its joint chief executive officer (CEO).Prognosis Is Good for Florida's Biotech IndustryOct. 22--Scores of representatives from Florida's biotechnology companies, meeting in Fort Lauderdale, expressed optimism the state's biotech industry will grow rapidly thanks to promotional efforts by trade organizations, partnerships between companies and universities and support from legislators.
Tan Sri Dr Ninian Mogan ...
Tan Sri Dr Ninian Mogan Lourdenadin has defended his buyout offer for MBf Holdings Bhd, saying his bid has a good premium and the group will need more funds to expand.
Ninian, who is the group's chief executive, had proposed to take MBf Holdings private via a selective capital reduction and repayment exercise (SCR) and to accelerate the maturity of the MBf Holdings' warrants on January 11.
Under the proposed SCR, minority shareholders will receive a cash amount of 65 sen for each share owned, while warrant holders will receive 5 sen for each warrant.
"We believe the 65 sen offer per share is a good premium as it represents a premium of 23 per cent and 33 per cent over the five-day and three-month volume-weighted average market price of 53 sen and 49 sen," said Ninian
"In order to maintain investor confidence, the major shareholders had to pledge their personal assets to secure an additional standby banking line of up to RM150 million to complement MBf Cards'
available banking facilities," said Ninian
said the privatisation would allow the major shareholders greater flexibility to grow the business as they were prepared to inject capital into the business as and when required.
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The company's chief executive, Dr Ninian Mogan Lourdenadin, said the PNG performance was "most encouraging" with the future looking promising because of greater political stability in Papua New Guinea and a significant increase in the tourist industry in Fiji.The chief executive's report said: The automotive division of the PNG operations "had an excellent year and achieved a record profit."We are now the largest multi franchise motor dealer and the highlight of the year was the acquisition of the Tabubil Motors, the Kenworth truck franchise and the opening of a new branch in Mt Hagen."The retail hardware operation of WR Carpenter (PNG) Limited performed well and produced a good profit."Dr Lourdenadin said the agricultural division had "mixed results" with the coconut oil mill in Rabaul having an excellent year and milling a record 64,000 tonnes of copra "which when coupled with record world prices resulted in good profitability."The tea, coffee and cocoa plantations had mixed results due to lower commodity prices and a weakening US dollar."Management's ability to control, monitor and implement new processing methods has helped keep the cost of production under control during a difficult period."Dr Lourdenadin said Carpenters Fiji Ltd had "a relatively difficult year" and although there was a marginal increase in revenue pre-tax operating profit fell from A$7.5 million (K18.75 million) to A$4.68 million (K11.7 million).
It has also enhanced its property portfolio by acquiring further land parcels," Dr Lourdenadin