Yeo Hiap Seng (RM
3.47/share)
Mixed views on YHSM
privatization proposal
Market observers have mixed views as to whether the proposed
privatization of YHSPL at RM3.60/share us a fair deal. Analysts feel that price
of RM3.60 is slightly below the fair value mark, nonetheless is deem fair. On
the other hand, another analyst feel that the offer was fair and minority
shareholders should that the offer as YHSM was planning to expand its
operations into Indonesia by opening up a bottling plant. YSHPL has proposed to
privatize 61.15% owned subsidiary YHSM for RM3.60 a share via a selective
capital reduction and repayment exercise. Hence, would result in total capital;
repayment of RM213.6mil translating into cash of RM3.60/share. – The Star
Affin Bank Bhd (RM
3.07/share)
Affin awaits clear
decision by Indonesian regulators
Affin Bank is waiting for the Indonesian government to make
a clear decision on foreign ownership of its banks. Managing director and CEO
said that the agreement between Affin and PT Bank In Perdana for the former to
acquire at least 51% stake in the Indonesian bank had been terminated by nature
as the agreement expired last year. However, they are still keen to relook at
it once clear on the foreign ownership issue – The Star
Malayan Banking
Bhd (RM 8.75/share)
Maybank sells of
Philippine insurer’s shares
Malayan Banking Bhd had disposed of 70% of its shares in
indirect subsidiary Philippine based AsianLife and General Assurance Corp to
STI Investments Inc for RM31.02mil, which is abput 1.5 times the book value of
the company – The Star
Source: AmeSecurities
No comments:
Post a Comment