SINGAPORE, July 23 (Reuters) - Stamford Tyres Corp Ltd , a distributor of tyres and wheels, said on Wednesday it planned a two-for-five share split to improve the liquidity of its shares and expand its shareholder base.
Stamford Tyres, which has a distribution network in more than 30 countries, recently reported that its net profit for the year ended April 30 nearly tripled to S$8.2 million ($4.66 million) from S$2.8 million in the same period a year earlier.
Under the proposal, a shareholder of an existing 1,000 shares, for instance, will eventually own 2,500 new Stamford Tyres shares.
($1=1.758 Singapore Dollar)