TAKASO (7071) - Takaso deal deemed fair, reasonable
Wednesday, 18 March 2015
PETALING JAYA: Rubber and baby products manufacturer Takaso Resources Bhd’s (TRB) proposed related-party transaction (RPT) to diversify into the construction business has been deemed fair, reasonable and on normal commercial terms by its independent adviser DWA Advisory Sdn Bhd.
Consequently, DWA Advisory has advised TRB’s minority shareholders to vote in favour of the proposed RPT at the forthcoming EGM on April 2.
A filing by TRB with Bursa Malaysia yesterday stated that DWA Advisory expected the proposed venture into construction to contribute 25% or more to TRB’s net profit in the future.
TRB unit Takaso Land Sdn Bhd had on Jan 12, 2015, received a letter of award from OCR Land Holdings Sdn Bhd to construct a 21-storey commercial building in Jalan Kuching, Kuala Lumpur, for RM37.44mil.
TRB’s non-independent and non-executive director Ong Kah Hoe owns OCR Land. He holds a 27.53% stake in TRB, of which 13.81% is held via OCR Land.
http://www.thestar.com.my
Wednesday, 18 March 2015
PETALING JAYA: Rubber and baby products manufacturer Takaso Resources Bhd’s (TRB) proposed related-party transaction (RPT) to diversify into the construction business has been deemed fair, reasonable and on normal commercial terms by its independent adviser DWA Advisory Sdn Bhd.
Consequently, DWA Advisory has advised TRB’s minority shareholders to vote in favour of the proposed RPT at the forthcoming EGM on April 2.
A filing by TRB with Bursa Malaysia yesterday stated that DWA Advisory expected the proposed venture into construction to contribute 25% or more to TRB’s net profit in the future.
TRB unit Takaso Land Sdn Bhd had on Jan 12, 2015, received a letter of award from OCR Land Holdings Sdn Bhd to construct a 21-storey commercial building in Jalan Kuching, Kuala Lumpur, for RM37.44mil.
TRB’s non-independent and non-executive director Ong Kah Hoe owns OCR Land. He holds a 27.53% stake in TRB, of which 13.81% is held via OCR Land.
http://www.thestar.com.my
