Privatisation of Pulai Springs good exit strategy for the Mahs

LITTLE-KNOWN Main Market candidate Pulai Springs Bhd is the latest listed firm to see its major shareholder wanting to privatise the company. But it's still unclear though as to why its major shareholders Mah Siew Chean and Christopher Mah Siew Houk are offering to buy out the remaining shareholders at RM1.18 a share.

In their offer document posted on Bursa Malaysia website on Monday, no rationale was stated, although some analysts reckoned that the privatisation was due to the owners' perception that the market was under-valuing their asset.