atans1

M’sia: Juz wondering? cont’d

In Malaysia on 08/03/2012 at 5:23 am

Ananda Krishnan is nearing a deal to sell his US$3 billion worth of power assets to a M’sian government company. It seems that it is paying top dollar. http://www.reuters.com/article/2012/03/05/malaysia-krishnan-power-idUSL4E8E510C20120305

So was his auction of his power assets all wayang?

(Related post:http://atans1.wordpress.com/2012/03/02/msia-juz-wondering/)

Anyway, strange things are always happening in M’sia. Juz last month, RHB is engulfed in a series of yet-to-be-resolved deals, some of them not of its own making. Aabar Investment group of Abu Dahi reportedly wants to sell its 25 per cent stake in RHB, just six months after buying it. RHB said it does not mind, nor does it make much sense.

Azlan Zainol, Chairman of the RHB Banking Group, said: “(Right now,) the price range in a Malaysian bank could be between 1.8 to two times the book (value). That’s the kind of range right now. If Aabar were to sell, I believe they may not be able to get the price of 10.80 ringgit at which they bought.” http://www.channelnewsasia.com/stories/corporatenews/view/1184226/1/.html

Note that stake was bought from a n Abu Dhabi bank at 2.25 timmes book value, way above the market price.

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