Willowglen is an integrated provider of customised systems used to monitor and control remote field equipment for oil and gas utilities, power utilities, sewerage and drainage utilities, water utilities, railroads and infrastructure monitoring/building monitoring. It derives 70%-75% of its revenue from Singapore and the rest from Malaysia.
KUALA LUMPUR: Willowglen MSC Bhd
’s minority shareholders have been advised to reject a takeover offer of 80 sen a share as it is below the fair value ranging from 92 sen to RM1.01.
The independent adviser Mecury Securities Bhd said on Tuesday the offer price was lower than and was at a discount of 12 sen to 21 sen or 13%-20.8% over the range of estimated fair value per share based on the discounted cashflow valuation method of 92 sen to RM1.01.
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