PETALING JAYA: The rumoured privatisation of Kulim (M) Bhd by parent company Johor Corp (JCorp) may be a tough feat to pull off considering JCorp's large debt, said analysts. Parties familiar with the situation also said that it is unlikely that JCorp would privatise Kulim.
Some concerns raised include the unwillingness of bankers to lend more money to JCorp should it seek to take Kulim private at an estimated RM1.8bil (based on Kulim's share price close of RM12.36 yesterday) considering JCorp's large debt of RM6.6bil.
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