Ann: UOA Development Bhd - Profit Result (2nd Qtr 2024), page-3

Seems like they are doing the same, dilute the minorities with the DRP on the Malaysian board as well, in that case it does help the UOS head stock but ROE is so low because capital base just keeps expanding, managing director is 83 and his children are acting as alternate directors already which is a strange setup for a public company. Exec director is 71, so presumably the endgame would be coming sooner rather than later and then shifting stock to Singapore might be part of estate planning because no cap gains tax in singapore. At least interest income is increasing with interest rates going up