Dear Shareholders,
The Board of Directors of icapital.biz Berhad (ICAP, 5108) is pleased
to announce the distribution of a 9.5 sen special dividend per share
less 25% tax for the financial year ended 31st May 2013 to be paid on
7th October 2013 to entitled shareowners. The entitlement date for the
special dividend is 19th September 2013.
This is the first dividend announcement since the listing of
icapital.biz Berhad on 19th October 2005, and may come as a pleasant
surprise to most investors. The primary investment objective of
icapital.biz Berhad is focused on long-term capital appreciation and
sustained compound return.
Though not mandatory and after careful deliberation, the Board has
decided to declare this special dividend so that the tax credits under
Section 108 of the Income Tax Act 1967 could be utilized before expiring
at the end of 2013.
Looking ahead, the Board, together with the fund manager and investment
adviser, would continue to safeguard the long-term interests of the
shareowners and ensure that the fund continues to perform for the
benefit of the shareowners based on the existing investment objectives.
Given the concerns of the fund manager, icapital.biz Berhad has been
maintaining a high level of cash (around RM1.47 per share) for a quite a
while now. However, the current turbulence seen in the local stock
market would offer attractive investing opportunities.
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