Business News

Published: Thursday March 7, 2013 MYT 12:00:00 AM
Updated: Thursday April 18, 2013 MYT 1:21:24 AM

Puncak Niaga unable to decide on offer

KUALA LUMPUR: Puncak Niaga Holdings Bhd held a special board of directors meeting yesterday to deliberate on the offers made by Kumpulan Darul Ehsan Bhd (KDEB) to acquire its stakes in two water assets, but was unable to reach a final decision.

In a filing with Bursa Malaysia, Puncak Niaga said that after full deliberation and after considering the advice of its adviser – Hong Leong Investment Bank Bhd – on the matter, the company was unable to reach a final decision to even consider giving approval in principle to KDEB’s offers.

This was in view of the incomplete and inconclusive nature of the offers from KDEB as well as the position taken by Pengurusan Aset Air Bhd (PAAB).

On Monday, Puncak Niaga said PAAB declined to comment on the consolidation of the various entities in Selangor or appraise the valuation principles as prescribed by KDEB in its offer letters.

Meanwhile, Kumpulan Perangsang Selangor Bhd (KPS) announced that it has accepted in principle the indicative terms and conditions of the offers from KDEB to acquire its 90.83% stake in Titisan Modal (M) Sdn Bhd and 30% stake in Syarikat Pengeluar Air Selangor Holdings Bhd. — Bernama

Tags / Keywords: News, Business, Business, Business, Puncak Niaga


  1. Property transactions dip, but house prices continue to rise
  2. 1MDB's annual land assessments set a precedent
  3. 1MDB and US firm in solar tie-up
  4. Liew's 2.76% stake in S P Setia traded off-market at RM3.95 per share
  5. Bulk of 1MDB loans guaranteed by Govt
  6. Daya Materials, Italy's Cimolai in mobile straddle transporter
  7. M'sian property market falls 10.9% in volume, rises 6.7% in value
  8. Auditors highlight several critical areas in 1MDB's books
  9. Malaysian billionaire Quek to take slice of Alam Maritim?
  10. Saving in fixed deposits is so safe that it’s risky!