A better deal

IN THE end, Datuk Mohamed Azman Yahya went back to Plan A – that is, to directly list his IT and corporate services businesses. And he says it is not because the proposed backdoor listing via Malpac Holdings Bhd had been thwarted. The deal was aborted because he had changed his mind after the due diligence. 

According to news reports, there was talk that certain Malpac shareholders had not been happy about the proposal. “Actually, it's the other way round,” Azman clarifies. “They (the Malpac management) were still keen but I wasn’t too comfortable about going ahead with it.”