Pmcorp is a subsidiary of Malayan United Industries Berhad, manufacturing chocalate with owned brands like Tudor Gold, Crispy and Tango, OEM for Tesco and many other supermarket, exporting to Asean market like China, HongKong and Singapore.

According to the director Wong Nyen Faat, the management is planning to move the Chocolate operation out of Persiaran Raja Muda, Shah Alam.

This is a golden industrial area in Shah Alam whereby all the MNCs gathered like Nestle, Panasonic, Toyota and etc.

Much like all the oil and gas companies would like to stick their offices neighboring KLCC, the Petronas HQ.

The existing site might be considered to become a Chocolate factory visiting tour open for tourism like Beryl’s Chocolate in Jalan Imbi.

The plan B is simple as rent it out to third party, can simply collect on rental cash flow without incurring risk.

Even paying out generous 57m Ringgit dividend this year, Pmcorp still has 99m of cash sit in the warchest.

However, the management still uncertain of either expansion or reduction, paying cash dividend is still a question mark.

One Shareholder Mr. Teh requested the company to distribute the treasury shares to shareholders as stock dividend.

The management said will consider this seriously as the company doesn’t need to cash out.

The rest of the conversation the directors just repeat the same things last year.

My POV

The plan of transforming the existing plant into a Chochalate visit tour might be just a empty talk.

As last year, the management always want to replace the decades old production line but didn’t make it.

As you can recall back from my old article "马联控股AGM游记，邱继炳：我的公司值50亿令吉"

"该公司今年的打算是要投资90m更换残旧的生产线，因为该公司对增加中国的市场份额有信心。"

Last year the company planned to invest 90m Ringgit to replace the all the old production lines, due to the strong demand in the China market.

How much you will get if stock dividends declared

The total share issued of Pmcorp after par reduction is 773m.                       

Treasury shares is 65m, therefore the shares circulate in the market is 708m.                       

Divide 708m by 65m, thats mean 11shares can get one share.                       

With the share price of 16cents, it turns out to be dividend yield of 9%

Seems like even don’t have cash dividend, giving stock dividend also not a bad option.