Definition of "public" in relation to a business trust
The facts in relation to Illustration 1 below are as follows:
A Sdn Bhd is a trustee-manager of C Trust, a business trust listed on the Main Market.
A Sdn Bhd has a wholly-owned subsidiary, B Sdn Bhd, a management company who manages a collective investment scheme, CIS M.
Mr. K is a director of A Sdn Bhd and B Sdn Bhd.
Corporation K and CIS M are subsidiary entities of C Trust as defined under the SC's Business Trust Guidelines.
Mr. L is a director in Corporation K.
Both A Sdn Bhd and B Sdn Bhd hold less than 5% in C Trust.
Based on the facts above and Illustration 1 below, who are excluded from the definition of "public" under paragraph 1.01(e) of the Main LR in relation to C Trust, the listed business trust?
The following are excluded from the definition of public in relation to C Trust, the listed business trust: