Thursday 28 Mar 2024
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SHAH ALAM (May 24): UMW Holdings Bhd said it has not received any indication from any parties since the extension of the validity of its deal to take over MBM Resources Bhd (MBMR).

"No, I don't have any indication from any sides so far. I guess everyone is busy with post-election fever," the group's president and group chief executive officer Badrul Feisal Abdul Rahim told a press conference after its annual general meeting this morning.

"Let everything settle down first. I am very sure they will come back to us," said Badrul.

Badrul said MBMR had never approached them following the takeover offer. "I am waiting and very open to continue to engage whenever they want to engage with us," he said, adding that "because we have extended the (validity of the takeover offer) to another six months".

On April 27, UMW had extended the validity of its takeover offer for control over MBMR for another six months, until Oct 31 this year.

Commenting about the another shareholder, Daihatsu which has a 30% stake in Perodua, Badrul said the group has been engaging with Daihatsu, but declined to elaborate on the sentiment issues on this matter.

According to the letter to UMW sighted by The Edge Malaysia Weekly, Daihatsu had opposed the move and responded by threatening to review its technological sharing with Perodua.

"I think we have explained to them in terms of objectives or intentions," said Badrul, "Let's hear their decisions."

"They (are) always our well treasured technical partner (for Perodua), we will always want them, nothing (has) changed," he added.

At 14.36pm, UMW shares traded unchanged at RM6.40, giving it a market capitalisation of RM7.47 billion.

 

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