Kejuruteraan Samudra gets takeover offer

Kejuruteraan Samudra Timur Bhd executive director Datuk Chee Peck Kiat

PETALING JAYA: Oil and gas service provider Kejuruteraan Samudra Timur Bhd (KSTB) has received a voluntary takeover offer from the company’s major shareholder Datuk Chee Peck Kiat (pic) and parties acting in concert to acquire all the remaining shares they do not own for a cash consideration of 48 sen per share and 18 sen per warrant.

Besides Peck Kiat, his son Cheng Chun, Darmendran Kunaretnam and Trance Rex Sdn Bhd, who collectively hold 43.53 million KSTB shares, representing 23.73% of the issued and paid-up capital of the company, also made the offer.