KUALA LUMPUR (March 19 : The founders and major shareholders of ENG TEKNOLOGI HOLDINGS BHD [] who are in the midst of privatising the hard disk drive component maker, said the takeover offer price has been revised downwards from RM2.50 to RM2.
In a statement to the exchange on Monday, Eng Teknologi said its founders Datuk Teh Yong Khoon and Low Yeow Siang via private vehicle TYK Capital Sdn Bhd, has proposed to lower the offer price as their financiers were unable to justify the funding for the takeover at RM2.50.
The financiers were unable to justify the funding after taking into account Eng Teknologi’s financials considering that its business was affected by the floods in Thailand, according to the company.
Eng Teknologi said it will deliberate on TYK’s revised offer. Shares of Eng Teknologi closed unchanged at RM1.77 on Monday.
In a statement to the exchange on Monday, Eng Teknologi said its founders Datuk Teh Yong Khoon and Low Yeow Siang via private vehicle TYK Capital Sdn Bhd, has proposed to lower the offer price as their financiers were unable to justify the funding for the takeover at RM2.50.
The financiers were unable to justify the funding after taking into account Eng Teknologi’s financials considering that its business was affected by the floods in Thailand, according to the company.
Eng Teknologi said it will deliberate on TYK’s revised offer. Shares of Eng Teknologi closed unchanged at RM1.77 on Monday.
