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Innovation Takes Centrestage At IOI

- January 26, 2024 (File pic by IOI Corporation).Everyone’s a winner at IOI Corporation Berhad’s (IOI) second IOI Innovation Convention 2024. ....

Dato Lee , Nesadurai Kalanithi , Dato Lee Yeow , Corporation Berhad , Innovation Convention , Managing Director , Chief Executive Dato Lee Yeow Chor , Dato Kong Sooi Lin ,

Felda offer of RM1.30 a share for FGV not fair, reject offer

’s five non-interested directors say the Federal Land Development Authority’s (Felda) offer of RM1.30 a share as not fair and advised minority shareholders to reject the offer.
In their recommendation on Friday, they said they have “not concurred” with RHB Investment Bank’s independent advice to accept the offer.
The non-interested directors are Datuk Yusli Mohamed Yusoff; Datuk Mohd Anwar Yahya; Datin Hoi Lai Ping; Dr Mohamed Nazeeb, P. Alithambi and Dr Nesadurai Kalanithi.
However, RHB Investment Bank said the offer is “not fair but reasonable”. It said the offer was not fair as the offer price of RM1.30 per offer share is lower and represents a discount of between 12 sen (8.5%) and 30 sen (18.8%) over the range of estimated value per FGV share derived using the sum-of-parts valuation method of between RM1.42 and RM1.60. ....

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FGV: Non-interested directors claim Felda offer is low

22 Jan 2021 / 16:32 H.
KUALA LUMPUR: The non-interested directors of FGV Holdings Bhd s (FGV) have recommended the company s shareholders to reject the mandatory take-over offer by the Federal Land Development Authority (Felda) due to the lower fair value offered at RM1.30 per share.
In a statement, FGV said the recommendation was made after careful examination of the terms and conditions of the offer and the rationale for the offer and future plans for FGV Group and its employees as disclosed in the offer document.
Taking into consideration the opinions, views and recommendations by RHB Investment Bank Bhd (RHB IB), being the independent adviser for the offer, the offer price is ‘not fair’ as it is below the fair value by RHB IB which ranges from RM1.42 to RM1.60 per FGV share, or a discount of 8.5 per cent to 18.8 per cent, said FGV. ....

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