PETALING JAYA: Cash-rich Kulim (M) Bhd, which is sitting on RM1.74bil in funds, is subject to a privatisation proposal by its major shareholder Johor Corp (JCorp).
In an announcement yesterday, JCorp said it was offering RM4.10 per share, which is a substantial 80-sen premium to Kulim’s last traded price of RM3.30. The company’s net assets per share stood at RM3.74 as at June 30.
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