Tasek takeover offer extended to July 22


  • Business
  • Tuesday, 09 Jul 2019

The chief executive of one victim, depositor Saigonbank Berjaya Securities JSC (SBBS) - a unit of Malaysia's Berjaya Corporation Bhd - told Reuters that if the ruling was upheld, she had little hope of recouping her bank's $10 million from the perpetrator, who was sentenced to life imprisonment. "We can't afford to lose the case. This represents 70 percent of our capital. Our business may get suspended," Josephine Yei said in an interview.

PETALING JAYA: HL Cement (Malaysia) Sdn Bhd has extended its takeover offer for the remaining Tasek Corp Bhd shares from 5pm on Tuesday to July 22.

It said on Monday that the terms and conditions of the offer of RM5.50 per share and RM5.50 per preference share remained unchanged.

When HL Cement made the takeover offer on June 18, it owned 97.887 million shares or 80.8%.

At the closing date on July 5, it owned 103.02 million shares or 85.04%.

Yesterday, Tasek’s share price on Bursa Malaysia was unchanged at RM5.51.

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