Adviser says no to corporate takeover proposals

KUB president and group managing director Datuk Abdul Rahim Mohd Zin

PETALING JAYA: The minority shareholders of KUB Malaysia Bhd and Wang-Zheng Bhd have been advised by their independent advisers to reject their respective takeover offers, as they have been deemed not fair and not reasonable.

In an independent advice circular, Affin-Hwang Investment Bank, as well as the non-interested directors of KUB, advised shareholders to reject the takeover offer at 35 sen a share from Temasek Padu Sdn Bhd.