Looking for a Lift: Investors May Stay Put on Renong. Sluggish Market Is Working Against Critical Share Buyback; Delay Would Further Hurt Sentiment
Article Abstract:
Renong Group (Malaysia) recently bought as much as 33 percent of its stock in its parent company United Engineers Malaysia, which resulted in concern about the company's stock price.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 2000
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UEM unveils a new proposal to rescue Renong--again
Article Abstract:
United Engineers Malaysia Bhd. (UEM) plans to acquire Renong Bhd. assets valued at 6.73 billion ringgit ($1.77 billion). As a result of the stock-for-assets deal, UEM ultimately would become a 54%-owned subsidiary of Renong. The deal has been criticized because it allegedly transfers Renong's problems to UEM.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 2000
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Malaysian mergers heat up
Article Abstract:
Company mergers are becoming common in Malaysia, with many companies trading at 50% and 60%. Less prospects for organic growth and lower interest rates are stimulating mergers and acquisitions. A highly anticipated acquisition is the Malaysian government's proposed buyout of UEM, which would give them control of Renong, allowing them to break up the Renong Group and sell to new investors in order to settle the company's ringgit debt of 13 million.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 2001
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