The sale of Shell Refining Company (Federation of Malaya) Bhd (SRC) at valuations close to its book value is a stark reminder of the state of affairs in the oil and gas (O&G) industry.
A Malaysian party headed by a former corporate kingpin had been eyeing the company since last year with an offer that valued the entire company at about RM1.2bil.
The deal would have valued SRC at RM4 per share.
“But banks were not willing to provide the financing at such valuations.
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A Malaysian party headed by a former corporate kingpin had been eyeing the company since last year with an offer that valued the entire company at about RM1.2bil.
The deal would have valued SRC at RM4 per share.
“But banks were not willing to provide the financing at such valuations.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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