Wing Tai Holdings Limited intend to acquire the remaining shares held by public in Wing Tai Malaysia Berhad for a sum of approximately RM 290.7 Million, representing about 33.87% of voting shares. The rationale for the acquisition according to Wing Tai Holdings is to allow the parent group to further integrate their financial and operational resources which should result in cost saving and achieve better operational efficiencies.

The offer according to Wing Tai Holdings would enable the public to realize their profit which is about RM 1.18 premium to the following last traded price in KLSE and shall be funded internally through cash resources. Maybank Investment Berhad is the financial adviser to Wing Tai Holdings and has confirmed that Wing Tai has sufficient financial resources to fulfill this offer. Based on last audited financial report of Wing Tai Malaysia, the Net Asset Value (NAV) per share was RM 2.70 and the Net Tangible Asset (NTA) per share was RM 2.70 and last traded share price was RM 1.18. Wing Tai Malaysia recorded profit before interest and taxes of RM 28.4 Million and EPS was RM 2.24 cents. The estimated transaction cost for this offer is approximately SGD 500,000

escveritasHotels/RestaurantsPropertyRetailServiceshospitality,hotel,malaysia,property,wing tai  Wing Tai Holdings Limited intend to acquire the remaining shares held by public in Wing Tai Malaysia Berhad for a sum of approximately RM 290.7 Million, representing about 33.87% of voting shares. The rationale for the acquisition according to Wing Tai Holdings is to allow the parent group to...Your Industries Online