Malaysia's 12th richest man's takeover bid of MWE falls through

Multi-Purpose Holdings Bhd MD Datuk Lau Kim Khoon Surin Upatkoon

PETALING JAYA: Tan Sri Surin Upatkoon’s (pic) investment vehicle Pinjaya Sdn Bhd’s plan to privatise its 31.14%-owned MWE Holdings Bhd has lapsed, annulling the earlier RM391.4mil offer by Pinjaya to take the company private.

The non-interested directors of MWE had on Wednesday requested for a further one month to deliberate on the takeover offer from Surin, also an MWE board member, via his investment vehicle Pinjaya, but the request was declined by Pinjaya yesterday.