TRADEWINDS not keen to cut Bernas stake

Tradewinds (M) Bhd is not keen to pare down its stake in Padiberas Nasional Bhd (Bernas), said its chairman, Datuk Wira Syed Abdul Jabbar Shahabudin.

"(We had) intention to pare down the holding to reduce the borrowings but the price now is below what we paid for the shares," he said after the company's annual general meeting here today.

The company completed the acquisition of 53.76 per cent stake in Bernas in January, 2010, increasing its holding to 72.57 per cent.
He said there was no requirement for the company to do so as Bernas still has 25 per cent public float.

"Besides, Bernas pays good dividend," he said. -- Bernama