Thursday 28 Mar 2024
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KUALA LUMPUR (Feb 16): Datuk Kamaluddin Abdullah, son of former prime minister Tun Abdullah Ahmad Badawi, and businessman Datuk Mazlin Md Junid, have only received acceptances for 7,615 shares or 0.01% of the issued share capital in Perduren (M) Bhd (fundamental: 0.1; valuation: 1.8) by the closing date today.

Kamaluddin and Mazlin, who is former president and chief executive officer of Daya Materials Bhd, had acquired a 69.3% stake in Perduren late last year, from Tan Sri David Law’s TS Law Group Sdn Bhd, at RM1.60 per share or RM149.6 million. They subsequently launched a takeover offer to acquire the remaining 30.7% stake in Perduren for RM66.27 million cash or RM1.60 per share.

In a filing with Bursa Malaysia today, Perduren said the joint offerors had acquired 93.58 million shares or 69.37% to date.

The duo had expressed their intention to maintain Perduren’s listing status, following the proposed takeover.

Perduren shares rose three sen or 1.51% to close at RM2.02 today, bringing a market capitalisation of RM268.49 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
 

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