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Kian Joo to decide on takeover offers during EGM on May 23

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Kian Joo to decide on takeover offers during EGM on May 23 Empty Kian Joo to decide on takeover offers during EGM on May 23

Post by Cals Thu 17 Apr 2014, 01:18

Kian Joo to decide on takeover offers during EGM on May 23
Business & Markets 2014
Written by Bernama   
Wednesday, 16 April 2014 18:51

PETALING JAYA (April 16): Kian Joo Can Factory Bhd will hold an extraordinary general meeting (EGM) on May 23, 2014, for shareholders to decide on the proposals to acquire the company, said its Group Chief Financial Officer, Ooi Teik Huat.

"The company will consider any credible offer from parties interested in acquiring Kian Joo," he said.

It was reported that the company had received two offers from Aspire Insight Sdn Bhd and Toyota Tsusho Corp (TTC).

"So far, Aspire Insight has come out with a credible offer, while for TTC, the directors have made an inquest for proof of funds...We still have yet to receive any reply," he told reporters, on the sidelines of Kian Joo's annual general meeting, here today.

Aspire Insight — a special purpose vehicle of the Employees Provident Fund and Can-One Bhd's former chief operating officer, Chee Khay Leong — has proposed to buy the entire assets and liabilities of Kian Joo for RM1.46 billion, while TTC proposed to buy a 51 per cent stake in the company.
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