In response to Bursa’s inquiry on a news report published in a weekly business tabloid that MRCB could see a potential restructuring in the near future, the group has responded to the various points published in the report.
- Among them are; Malaysian Resources Corporation Berhad may be undergoing a restructuring exercise in the near future, with the Employees Provident Fund- its largest shareholder with a 36.21% stake – taking the lead”. Maybank Investment Bank is understood to have been roped in by the retirement fund to help with the restructuring. Plans being explored for the property development and construction company include a merger or even a privatisation, but they are still at the exploratory stage”. Certain quarters also say that EPF could opt to privatise MRCB together with the current management under Tan Sri Mohamad Salim Fateh Din, MRCB’s executive vice-chairman, and subsequently undertake a corporate exercise post privatisation”.
- And “However, sources familiar with the company say that a such a merger may only entail MRCB’s construction arm, leaving the company as a pure property player”.
The group said it made due and diligent enquiry with its directors, major shareholders, and all such other persons reasonably familiar with the matter, and clarifies that none of the Parties have any transaction plan for MRCB and have not engaged any Investment Banks for such transaction plan as speculated in the article.
MRCB alongside its major shareholders said it will always consider and explore all potential opportunities and/or corporate proposals involving the businesses of MRCB Group in the best interest of MRCB and all shareholders.
It further added that no proposal or offer in respect of the restructuring exercise has been received from any party.
