In an independent advice circular posted on Bursa Malaysia’s website today, independent advisor DWA Advisory Sdn Bhd said the 65.5 sen offer price for the shares that Tiah does not own (through TA Securities Holdings Bhd) constituted a discount of RM1.60 to RM1.61 or 71.11% to 71.24% to the estimated value of TAE shares, which are between RM2.25 and RM2.26 per share based on a sum of parts valuation
The company announced that its wholly-owned subsidiary Greatech Integration (M) Sdn Bhd (GIM) had entered into the sales and purchase agreement with the state’s development agency for the acquisition of the land, which is located in Batu Kawan Industrial Park. The purchase will be funded through internally generated funds.
Selangor reported today the highest daily number of new Covid-19 cases at 557.
Sanitisation work is being carried out in the premises.
Sentoria will be using RM26.7 million of the sale proceeds to repay bank borrowings, which it noted will save it RM1.6 million worth of interest per year
“We are still waiting for a few additional info from Pfizer but this means it can be used in Malaysia.”
Under the deal, Tiong Nam’s subsidiary Tiong Nam Logistics Solutions Sdn Bhd will provide logistics services, which also include transportation and warehouse space storage for the vaccine.
As of October, the contractors were owed RM700 million, and after taking into account work done in December, this amount would exceed RM1 billion.
Chin Hin to buy 51.5% stake in Chin Hin Group Property from Chiau family for RM88.86m; announces bonus issue
Ultimately the controlling shareholders will still be Chiau family by virtue of their aggregate shareholding of 71% in Chin Hin.