Khazanah says decision made on buyer for its 32% stake in Pos Malaysia

Wednesday, April 13, 2011

KUALA LUMPUR: Khazanah Nasional Bhd, the government's investment arm, has decided on the potential buyer for its 32.21 per cent stake in postal service provider, POS MALAYSIA BHD.

"We already have a winner in mind," said Khazanah managing director Tan Sri Azman Mokhtar on Wednesday, April 13, adding that there were 50 potential buyers.

However, he declined to narrow the identity of the "winner" but said the names would be submitted to the board later this month.

Among the criteria set for the bidders are ability to provide good premium and unlock Pos Malaysia's values, he told reporters on the sidelines of Invest Malaysia 2011.

News reports and research houses had suggested that the three shortlisted bidders were DRB-HICOM BHD, NATIONWIDE EXPRESS COURIER SERvices and a Amanah REIT-Malaysia Pacific Corp joint venture, with offers ranging between RM3.38 and RM4.62 per share. The other two bidders were Scomi Bhd and TRICUBES BHD.

Asked on the impact of the new Postal Bill, which has yet to be tabled in Parliament, on the deal, Azman said various issues have been factored in, including consultation with industry players.

"Hence, the Bill is not expected to be entirely a surprise," he said.

The Bill is expected to touch on crucial issues in Pos Malaysia, including the government's golden share and rights over some of the real estate owned by Pos Malaysia. – Bernama


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