KUALA LUMPUR: HwangDBS Investment Bank Bhd, which is the independent adviser for Malaysian Resources Corp Bhd’s (MRCB) proposed corporate exercise, said the deal was “fair and reasonable” and not detrimental to non-interested shareholders of MRCB.
MRCB had in February announced that it had teamed up with Nusa Gapurna in a RM729mil corporate exercise which would see the latter injecting land worth RM459mil into the property and construction group, in return for shares.
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