Tigertalk KiniBiz | Bursa's suspect call on EPF
When the rights of major shareholder the Employees Provident Fund (EPF) were denied in a major banking merger involving CIMB Group and RHB Capital, alarm bells were set off in Tiger’s brain, prompting it to promptly investigate.
On Aug 17, 2007, a special purpose acquisition vehicle called Synergy Drive was given the go ahead by their respective shareholders to acquire the assets of three major plantation groups – Sime Darby, Kumpulan Guthrie and Golden Hope – effectively merging them. (The overall merger also included some other companies.)
Among all three companies, there was one common ultimate shareholder, Permodalan Nasional Bhd or PNB, the operator of the national unit trust scheme and the single largest investor on the local bourse, even eclipsing the EPF.
Full story: http://www.malaysiakini.com/news/278425
