By Sharen Kaur
sharen@nstp.com.my
Published in NST on January 25, 2012
To recap, Chan’s Sagajuta rose to prominence after it was linked to a reverse takeover of Jerneh Asia Bhd, which is 37 per cent owned by Robert Kuok.
The talks in the end fell through due to a disagreement over definitive terms.
There has been speculation that since then, Chan has been looking for another listed vehicle to inject his assets.
Last November, Chan emerged as a substantial shareholder in Harvest Court Industries Bhd with a 13.85 per cent stake in the company.
Chan and off icials from Maybank Private Equity were not available for comment.
Me a nwh i l e , speculation has been rife that CI Holdings, which is now cash-rich, is keen to buy DBE to create a new core business.
CI Holdings is on the prowl for new businesses after selling food and beverage arm Permanis Sdn Bhd to Japanese Asahi Group Holdings Ltd for RM820 million last year.
When contacted by Business Times last Wednesday, CI Holdings group managing director Datuk Johari Abdul Ghani denied that he, or CI Holdings, is talking to DBE to buy into the company .
But DBE told Bursa Malaysia a day later that it is in discussion with a shareholder of CI Holdings which is at preliminary stage.
A local daily reported around the same time that CI Holdings will pay RM40.4 million, equivalent to RM0.20 per share, to acquire a 30 per cent equity stake in DBE. After selling Permanis, it is reported that CI Holdings may be looking to buy a business in the food industry.
Its other business, which is the sanitary division, is only contributing 7 per cent to its earnings.
sharen@nstp.com.my
Published in NST on January 25, 2012
KUALA LUMPUR: Three parties are interested to take over DBE Gurney Resources Bhd, a poultry breeder, in a bid to return the company to profitability, people familiar with the matter said yesterday.
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Business Times understands that besides CI Holdings Bhd, the other parties interested in DBE are Datuk Raymond Chan Boon Siew, the controlling stakeholder of Sagajuta (Sabah) Sdn
Bhd, and Maybank Private Equity.
Chan, a prominent Sabah developer, has been buying shares in DBE from the open market and now controls about 4.0 per cent stake of the company.
DBE closed at 12.5 sen, 1 sen down on volume of 1.693 billion shares last Friday.
Bhd, and Maybank Private Equity.
Chan, a prominent Sabah developer, has been buying shares in DBE from the open market and now controls about 4.0 per cent stake of the company.
DBE closed at 12.5 sen, 1 sen down on volume of 1.693 billion shares last Friday.
The talks in the end fell through due to a disagreement over definitive terms.
There has been speculation that since then, Chan has been looking for another listed vehicle to inject his assets.
Last November, Chan emerged as a substantial shareholder in Harvest Court Industries Bhd with a 13.85 per cent stake in the company.
Chan and off icials from Maybank Private Equity were not available for comment.
Me a nwh i l e , speculation has been rife that CI Holdings, which is now cash-rich, is keen to buy DBE to create a new core business.
CI Holdings is on the prowl for new businesses after selling food and beverage arm Permanis Sdn Bhd to Japanese Asahi Group Holdings Ltd for RM820 million last year.
When contacted by Business Times last Wednesday, CI Holdings group managing director Datuk Johari Abdul Ghani denied that he, or CI Holdings, is talking to DBE to buy into the company .
But DBE told Bursa Malaysia a day later that it is in discussion with a shareholder of CI Holdings which is at preliminary stage.
A local daily reported around the same time that CI Holdings will pay RM40.4 million, equivalent to RM0.20 per share, to acquire a 30 per cent equity stake in DBE. After selling Permanis, it is reported that CI Holdings may be looking to buy a business in the food industry.
Its other business, which is the sanitary division, is only contributing 7 per cent to its earnings.
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