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Bursa highlights for Mon, May 30


Bursa highlights on May 30

* Inter-Pacific Securities Sdn Bhd has called for minority shareholders of property developer Petaling Tin Bhd (PTB) and leisure/tourism-related firm Karambunai Corp Bhd to reject the takeover offers made by their controlling shareholder Tan Sri Dr Chen Lip Keong. For both cases, the independent adviser says that although Chen’s offer can be deemed reasonable, it is of the view that the ‘not fair’ aspect substantially outweighs the ‘reasonableness’ of the share/warrant offer price. Chen is offering 24 sen each for PTB shares, 5 sen each for Karambunai shares and 2 sen each for Karambunai warrants. On Monday, PTB shares ended trading at 24.5 sen while Karambunai closed at 4.5 sen (shares) and 0.5 sen (warrants). Read more

Corporate News , Bursa highlights

   

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