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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?


To: Stitch who wrote (6521)9/20/1998 5:56:00 AM
From: eWhartHog  Respond to of 9980
 
Stitch,

An ADR trades in the US in US$. Sime Darby ADRs are traded on the over-the-counter bulletin board (OTC-BB). For this reason there is no required holding period for the ADR and the sale proceeds are in US$. The restrictions are on trading of the underlying stock in Malaysia.

An ADR holder would not be a registered shareholder of Sime Darby. The bank issuing the ADR would be the registered shareholder. The Malaysian trading and currency restrictions would affect anyone who converted the ADR into underlying stock and tried to sell the stock on the KLSE.

For a description of ADRs see:

global-investor.com

Regards,
John