Kulim Rejects Offer From Dewan Perniagaan to Buy QSR Stake

Kulim (Malaysia) Bhd., which invests in properties and produces palm oil, palm kernel, and rubber, said it’s rejecting an offer from Dewan Perniagaan Melayu Malaysia to buy its stake in QSR Brands Bhd., according to a Kuala Lumpur stock exchange statement.

Johor Corp., Kulim’s parent company, wouldn’t support any proposal to dispose of its stake in QSR, according to Kulim’s statement.

“At all times, the board is conscious of its fiduciary duty in the interest of minorities, shareholders and for the future growth of the company,” Tuan Haji Ahamad Mohamad, Kulim’s managing director, said.

Dewan Perniagaan Melayu Malaysia describes itself as the country’s Malay Chamber of Commerce, according to its website.

To contact the reporter on this story: Ann Koh in Singapore at akoh15@bloomberg.net

To contact the editor responsible for this story: Katrina Nicholas at knicholas2@bloomberg.net

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