Scomi Group Bhd surprised investors when it proposed to revise its current issued share capital reduction from RM224.96mil to RM3mil from the earlier RM40mil.
PETALING JAYA: Merge Energy Bhd’s shareholders have been urged by KAF Investment Bank Bhd (KAF IB) to reject the unconditional mandatory takeover offer by Westiara Development Sdn Bhd, Cerdik Cempedak Sdn Bhd, Fine Approach Sdn Bhd, Anjuran Utama Sdn Bhd, and Datuk Lee Tian Hock, as the offer is seen to be unfair and unreasonable.
“Accordingly, we advise and recommend that holders reject the offer,” KAF IB said in a note yesterday.
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