The Finance Ministry said the proposed merger would not involve cash, with the transaction of exchange in shares and warrants that could further strengthen UEM Sunrise’s position. — Bernama pic
“The proposal was presented based on the commercial benefits that will be able to be generated as a result of the merger. PKR’s Balik Pulau MP Muhammad Bakhtiar Wan Chik meanwhile had asked the finance minister to state the rationale and purpose of merging EcoWorld and UEM Sunrise when Eco World’s debts would become a liability to Khazanah and if this was a “bail out” to purportedly save a “crony”.
Tan Sri Lee memang a lucky guy, this will the 2nd time his company was bought over by a GLC....first was SP SETIA and now ECO WORLD, are GLC that incapable to built their own brand in this industry?!!!!