Borneo Oil Berhad (“BornOil”) has been embarking on share buybacks since earlier this month. In an announcement made to Bursa Malaysia this evening, the company said that its latest buyback was today with details being as follows:
At times, companies embark on share buy-back exercises when they feel that their stock is undervalued on the open market.
The BornOil Group is in all the 4 values which are represented by its business activities in: –
(A) Properties and property management and holding of resource based properties.
(B) Gold mining, trading and accumulation.
(C) Renewable and sustainable energy through the processing of renewable biomass from the palm oil industries in Malaysia and Indonesia which produces 85% of edible palm oil of the world.
(D) Food franchise operations via its flagship “Sugarbun” brand, and Pezzo Pizza.