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Ekovest chairman Lim Kang Hoo surprised by reaction to IWC deal

Ben Shane Lim
Ben Shane Lim11/13/2017 08:00 AM GMT+08  • 8 min read
Ekovest chairman Lim Kang Hoo surprised by reaction to IWC deal
(Nov 13): Iskandar Waterfront City executive vice-chairman and controlling shareholder Lim Kang Hoo has expressed surprise that the market sees his proposal for Ekovest to privatise IWC recently as a bailout.
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(Nov 13): Iskandar Waterfront City executive vice-chairman and controlling shareholder Lim Kang Hoo has expressed surprise that the market sees his proposal for Ekovest to privatise IWC recently as a bailout.

“I was very surprised,” Lim says following the market selldown of Ekovest after the announcement. “Shocked that the market would perceive it as a bailout.”

Ekovest’s share price collapsed after the deal was announced, falling as much as 18.5%, or almost RM460 million ($148.27 million) in market capitalisation. Clearly, the market did not take too kindly to the deal.

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