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Cosway Corporation Berhad ("Cosway Corporation")
was incorporated to acquire the entire issued share capital
of Singer (Malaysia) Sdn Bhd ("Singer Malaysia"). The
Company was listed on the Bursa Malaysia Securities Berhad in October
1990.
Berjaya's
participation in Singer Malaysia commenced in March 1985 with a
48% shareholding. In 1989, Berjaya made a take over bid for Singer
Sewing Machine Company ("SSMC") Inc on the New York Stock
Exchange, the holding company of SSMC. The bid subsequently resulted
in Berjaya acquiring a majority stake and management control of
Singer Malaysia.
Through the acquisitions of the Unza Group of Companies,
Cosway (M) Sdn Bhd and other consumer related businesses,
Cosway Corporation then established itself as a leading
marketeer of a broad range of consumer products.
Cosway Corporation further diversified into manufacturing
when it acquired Dunham-Bush (Malaysia) Bhd (“Dunham-
Bush”), an acknowledged key player in the Global Commercial
and Industrial Heating, Ventilating, Air-conditioning and
Refrigeration business.
On 11 September 1998, Cosway Corporation adopted its present name to reflect the Company's long term focus in the direct selling business through its subsidiary, Cosway (M) Sdn Bhd.
On 15 January 2004, Cosway Corporation completed the divestment of the entire shareholdings of Unza Holdings Berhad for a total cash consideration of RM186.37 million.
On 28 April 2006, Cosway Corporation completed its capital
distribution of 51,665,054 Dunham-Bush shares to its
shareholders on the basis of three (3) Dunham-Bush shares for
every twenty (20) existing shares held in Cosway Corporation.
As a result, Dunham-Bush ceased to be a subsidiary of
Cosway Corporation.
On 4 June 2007, Cosway Corporation was de-listed from the official list of Bursa Malaysia Securities Berhad (Bursa Securities) pursuant to Paragraph 16.04 of the Listing Requirements of Bursa Securities.
With
a total employee strength of over 1,700, the Group is currently
engaged in the following core activities:
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Marketing of household, beauty, health care and other consumer products through a multi-level direct selling network and an online shopping portal known as eCosway.com; |
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Marketing
and selling of consumer durables under the brand name "SINGER"
on cash or instalment payment terms. |
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Retailing of multi-brand consumer durables on cash or equal payment terms; |
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Distribution,
sale and rental of audio/visual home entertainment products
and distribution of children's education learning aids' products. |
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