China Yuchai, a subsidiary of Hong Leong Asia, recently announced on 7 June that its Board of Directors has approved a share buyback plan where the company may repurchase its ordinary shares of up to US$40 million ($54.0 million) in value or up to 4 million shares, whichever occurs earlier.

Under the share buyback plan, China Yuchai may buy back its shares from time to time at prevailing market prices in private negotiated transactions or other means. The company says it plans to fund the share buyback plan from its operating cash flow and its existing cash balance.

The Company's Board of Directors will review the share buyback plan periodically and may authorise adjustment of its terms and size, and the plan may be suspended or discontinued at any time. The shares purchased under the share buyback plan will be held as treasury shares upon purchase.