KECK Seng (M) Bhd has proposed a 1-for-2 bonus issue to reward shareholders and to improve the liquidity of its shares in the market.

In a filing to Bursa Malaysia today, Keck Seng said the bonus, involving RM119.709 million, would be wholly-capitalised from its retained earnings.

The retained earnings stood at RM678.264 million according to the company's latest audited financial statements as Dec 31, 2009
As at Nov 30, 2010, its issued and paid-up capital stood at RM241.4 million. (including 1.974 million shares held as treasury shares)

It said the actual number of the new bonus shares that may be issued would be determined later at the entitlement date. -- BERNAMA