Takeover offer for Yee Lee shares

The major shareholders now hold around 90.08% of the company. This is above the 90% threshold that is needed to withdraw its listing status or to undertake a compulsory acquisition of the company. (File pic shows Yee Lee products).

KUALA LUMPUR: Yee Lee Corp Bhd, which trades in edible oil, announced that its major shareholders now hold around 90.08% of the company.

This is above the 90% threshold that is needed to withdraw its listing status or to undertake a compulsory acquisition of the company.

In a filing with Bursa Malaysia on Tuesday, Yee Lee said it had received a voluntary takeover offer from joint offerers namely its executive director Datuk Lim A. Heng @ Lim Kok Cheong and parties acting in concert to acquire the shares that they did not already own in Yee Lee.