Khanazah — Who you misleading?

In Uncategorized on 26/07/2010 at 5:30 am

[Update 28 july 2010 — Yes, from the perspective of an investor, Khazanah overpaid — Accept offer, I intend to. Reasons tomorrow]

In the offer to buy 51% of Parkway, Khanazah says Khazanah’s core competency lies in improving the corporate governance of its investee companies and providing support and guidance on the strategic direction of such companies through its nominees on the board.

Excuse me K, but what about all those disasters in the KLSE listcos over the years  that you invested in? I hope you realise that misleading info in an offer document can lead to law suits.

To be fair, the rest of how it describes itself is very factual.

Khazanah is the investment holding arm of the Government of Malaysia entrusted to hold and manage the Malaysian Government’s commercial assets and to undertake strategic investments. Khazanah has stakes in more than 50 companies across a diverse range of sectors such as financial services, power, property, broadcasting, electronics, infrastructure, telecommunications, airport management, research technology and venture capital, automobile manufacture, port development and management, and healthcare. Its portfolio grew from S$22.1 billion5 as at 14 May 2004 to over S$40.0 billion5 as at 31 December 2009. Khazanah has a strong record of regional expansion and growth in investee companies and maintains an active investment portfolio across Asia and the Middle East …

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