Khazanah names Amirul Feisal Wan Zahir as managing director asiaasset.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from asiaasset.com Daily Mail and Mail on Sunday newspapers.
FOR three weeks beginning Dec 18,2020, there were doubts if Batu Kawan Bhd would be successful in its offer to take over Chemical Company of Malaysia Bhd (CCM).
This is following the emergence of low-profile seasoned investor Pui Cheng Wui in CCM with a 16.12% stake.
If Pui did not accept the offer, Batu Kawan would not be able to reach the 90% acceptance level threshold to take CCM off Bursa Malaysia.
Pui purchased the shares, amounting to 27.56 million, from the open market. The amount is staggering and would have cost Pui some RM83mil, assuming he purchased the shares at RM3.08 each. Batu Kawan’s offer for CCM was RM3.10 per share, hence leaving him a two sen margin.
Batu Kawan raises stake in CCM to 92%, to proceed with delisting plan thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
Dirty dealings. Corporate battles. Consumer woes. Here are five things you need to know today.
1. DBS Group Research expects Bank Negara to cut the overnight policy rate by another 25 basis points to a new low of 1.5%.
2. The FBM KLCI finishes 8.70 points or 0.53% lower at 1,627.01 today, dragged mainly by profit-taking on banking counters.
3. The government is imposing the MCO on the entire state of Kelantan and three districts in Sarawak starting tomorrow.
4.Genting Malaysia’s subsidiary permanently shutters Genting Casino Southport in the north west of England.
5. Batu Kawan now controls 92.14% of Chemical Company of Malaysia after receiving more acceptances for its RM3.10 takeover offer.
DWA Advisory Sdn Bhd, in an independent advice to the shareholders of CCM, said although CCM’s shares will remain traded on Bursa Securities, shareholders, especially those with large blocks of shares, may have limited opportunities or require a longer time to dispose of them in the open market. for the unconditional mandatory takeover of Chemical Co of Malaysia Bhd (CCM) is not fair but shareholders have been advised to accept it as it is reasonable.
DWA Advisory Sdn Bhd, in an independent advice to the shareholders of CCM, said although CCM’s shares will remain traded on Bursa Securities, shareholders, especially those with large blocks of shares, may have limited opportunities or require a longer time to dispose of them in the open market.