Wednesday, April 20, 2011

DRB-Hicom says no notification from Khazanah about Pos stake

KUALA LUMPUR: DRB-HICOM BHD [] has not received any notification from Khazanah Nasional Bhd that it had won the 32.21% POS MALAYSIA BHD [] stake.

DRB-Hicom said that as at on Wednesday, April 20, the company has yet to receive any notification from Khazanah.

'DRB-Hicom will make the appropriate announcement(s) to Bursa Malaysia Securities Bhd in a timely manner in accordance with the Bursa Securities Listing Requirements, as and when necessary,' it said in a statement to the stock exchange.

On April 13, Khazanah managing director Tan Sri Azman Mokhtar said the government's investment arm had decided on the potential buyer for its 32.21% stake in postal service provider.

"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 SER []vices 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 [].

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