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(From Business Times (Malaysia))
Byline: Ooi Tee Ching
MULPHA International Bhd, which rewards its shareholders through share buybacks instead of dividends, had from January 2005 to May 2006 bought back 65.31 million shares from the open market for RM41.80 million. The group will continue do so for the rest of the year should its stocks trade unfavourably. Mulpha shares, which have traded between 50 sen and 70 sen from May 2004 to March 2006, are now trading above RM1.
Yesterday, the stock closed a sen lower at RM1.14.
"If the stock prices were to trade at low prices, we will pursue our buyback strategy.
"This year, we've …