Pimpinan Ehsan up 4.08% on news of special dividend payout

PETALING JAYA: Pimpinan Ehsan Bhd's share price rose 4.08% to RM2.55 in early trade following announcement of a special cash dividend following the completion of the disposal of TRIplc Bhd by the company to Puncak Niaga Holdings Bhd.
At 11.12am, the stock was trading at RM2.48 with 12,000 shares done.
Yesterday, the company said it would pay a special cash dividend of RM1.95 per share in respect of the financial year ended Dec 31, to be paid on July 3 to shareholders.
Earlier this year, Pimpinan Ehsan assumed the listing status of TRIplc on the main board of Bursa Malaysia, following the de-listing of TRIplc shares. Consequently, TRIplc is now a wholly owned subsidiary of Pimpinan Ehsan.
Puncak Niaga had previously said that the rationale behind its acquisition of TRIplc is to enhance the revenue stream of its construction segment. The proposal came after Puncak Niaga disposed its water assets Puncak Niaga (M) Sdn Bhd and Syarikat Bekalan Air Selangor to the Selangor government.