Malaysia Fund board OKs liquidation of fund; stockholder OK needed

By Angela McDaniels

Tacoma, Wash., March 23 - Malaysia Fund, Inc.'s board of directors adopted a proposal to liquidate the fund, according to a company news release.

Subject to stockholder approval of the plan of liquidation and dissolution adopted by the board, the fund plans to sell its assets, discharge its liabilities and distribute the net proceeds to stockholders.

The board plans to submit a proposal to stockholders to approve the plan at the fund's annual meeting of stockholders to be held in June.

The fund is a closed-end management investment company based in New York that seeks long-term capital appreciation through investment primarily in equity securities of Malaysian companies.

The fund is advised by Morgan Stanley Investment Management Inc.

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