PETALING JAYA: The Armed Forces Fund Board (LTAT) has received Bank Negara Malaysia’s nod to commence negotiations with Boustead Holdings Bhd for the proposed privatisation of the company.
“The proposal is still subject to other regulatory approval and this notification does not amount to a firm intention that we will undertake the proposal. Accordingly, there can be no certainty that we will proceed with the proposal,“ LTAT said in a statement today.
Boustead is 59.42% owned by LTAT. The Boustead group is involved in businesses ranging from plantation to finance.
In late May, Boustead confirmed that LTAT was considering a proposal to privatise the company.
At the closing bell, Boustead closed 2.24% lower at 65.5 sen on 6.52 million shares traded.
source https://www.thesundaily.my/business/ltat-to-start-talks-with-boustead-on-privatisation-IH3696648
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