Adviser: Cypark’s proposals ‘fair and reasonable’

PETALING JAYA: Environmental solutions firm Cypark Resources Bhd’s proposals to place out new shares, representing up to a 20% stake, and to exempt the two interested directors from having to make a mandatory general offer (MGO) are “fair and reasonable,” according to independent adviser Affin Hwang Investment Bank.

Cypark, which is developing a sanitary landfill at Ladang Tanah Merah, Negri Sembilan, under a proposed 25-year concession agreement, plans to partly fund the project using the private placement proceeds.