Objektif Bersatu buys Bumi Armada stock

OBJEKTIF Bersatu Sdn Bhd announced that it has bought 7,000 shares in shipping company Bumi Armada Bhd for a total of RM47,250, or RM6.75 a share. Wan Ariff Wan Hamzah, a director in Objektif Bersatu, and businessman Ananda Krishnan are teaming up to buy 69 per cent of Bumi Armada for RM303.29 million, or RM7.00 a share. Objektif Bersatu had on September 3 announced that it would make a mandatory general offer to acquire the remaining shares in Bumi Armada, upon completion of the proposed purchase. Bumi Armada last closed unchanged at RM6.75.