Nascom can complete takeover of PN4 firms by March

  • Business
  • Saturday, 04 Jan 2003

PERBADANAN Komputer Nasional Bhd (Nascom) expects to complete the takeover of 11 listed companies currently under PN4 status by March. The takeover will result in the companies being relisted on the KLSE. 

To facilitate the takeover, Nascom has established PC Suria Nascom Group Sdn Bhd as the holding company for the 11 companies which are involved in various business activities. 

Nascom’s move is in line with its intention to diversify into various business activities apart from being a computer manufacturer.  

PC Suria chief executive officer Nascom Zulkifli Amin Mamat said the takeover and listing exercise would involve RM800mil.  

The investment is part of a RM2bil fund received by Nascom from overseas. 

A total of RM500mil would be allocated for acquiring the listing status of the 11 companies and RM300mil for the purchase of assets to be injected into the companies. 

Zulkifli, however, did not name the 11 companies involved in the takeover exercise. 

The assets to be injected into the companies would include those involved in construction, transport, medical, plantation, hypermarkets, hotels, land development and education. 

“We are at the moment appealing to the authorities for the assets injection and relisting,” Zulkifli told a press conference at PC Suria Nascom’s Hari Raya gathering in Kuala Lumpur yesterday. 

Zulkifli said he had been directly negotiating with most of the PN4 companies to buy over their listing status for between RM20mil and RM30mil. 

Following the acquisition, the 11 companies would be renamed with the beginning word as PC Suria. 

Zulkifli also said Nascom had established PC Suria Bank Ltd to be based in Labuan and it was expected to begin operations in the near future. 

He said with the offshore banking system, it would be easier for the bank to receive foreign investments to be used for Nascom’s plans. 

Nascom has also entered into partnership with the owner of Olivetti C.M.S. Spa, a busineses based in Torino, Italy, for the production of PCs under the brand name of PC Suria Olivetti. 

Through the joint effort, 5,000 units of the PC Suria Olivetti would be initially produced at the Olivetti plant in Milan, Italy, in February or March this year, he said. – Bernama 

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