GIVEN the current glut in the local property market, the recent move to take Selangor Properties Bhd (SPB) private can be viewed as a wise strategy by its major shareholder, Kayin Holdings Sdn Bhd.
Kayin Holdings, which is the investment vehicle of the Wen family, has proposed to privatise SPB group via a selective capital reduction and repayment exercise at RM5.70 per share.
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