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ECMLIBRA MAINTAINS "HOLD" ON PLUS EXPRESSWAYS BHD.
from BERNAMA, The Malaysian National News Agency KUALA LUMPUR, Jan 18 (Bernama) -- ECMLibra is maintaining a "hold" on PLUS Expressways Bhd, following its announcement that it will not evaluate, consider or table Jelas Ulung Sdn Bhd's takeover offer at RM5.20 per share.
"There is uncertainty whether PLUS will be able to secure minority shareholders' approval as the question may arise whether the board has done all it can to extract the best return for its shareholders," ECMLibra said in a research note today.
The UEM-EPF offer of RM4.60 a share is lower in value when compared with Jelas Ulung's offer of RM5.20 a share.
The research house, however, …
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