Two fail to make GO despite control


  • Business Premium
  • Friday, 18 Mar 2011

PETALING JAYA: The controlling shareholders of Nylex (M) Bhd and TRC Synergy Bhd had failed to undertake mandatory general offers despite obtaining control of these companies last year, the Securities Commission (SC) said in its annual report.

The SC said these shareholders and parties acting in concert were found to have breached the creeping provisions in the Malaysian Code on Takeovers and Mergers by acquiring more than 2% of the voting shares in the two affected companies within a period of six months.

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

CTOS IDGuard prevents over RM79 million in fraud Premium
Trading ideas: Axiata, Tenaga Nasional, Berjaya Land, RHB Bank, FGV Premium
US energy chief says oil reserve is a tool to meet short-term supply crunch Premium
Oil slumps on Omicron fears; posts biggest monthly fall in 20 months Premium
Copper hits two-week low on Omicron uncertainty, aluminium slips Premium
Powell places faster bond-buying taper on Fed's Christmas table Premium
GLOBAL MARKETS-Stocks slide as Omicron worries push investors to safe havens Premium
S&P sees stronger fourth quarter for Asia Premium
Strong fundamentals lift RHB Bank’s earnings Premium
Bursa Malaysia rebounds marginally Premium

Others Also Read


Vouchers