precision manufacturing

Fu Yu to privatise LCTH for $20.3 mil via selective capital repayment

SINGAPORE (Dec 8): Fu Yu Corporation, the manufacturer of precision plastic components, plans to privatise its subsidiary, LCTH Corporation, through a selective capital repayment exercise (SCR) valued at around RM61.3 million ($20.3 million).

LCTH is listed on Bursa Malaysia and focuses on the precision manufacturing of tools and plastic products in Malaysia. As at 6 Dec, it has a share capital of RM169.9 million comprising 360 million ordinary shares, of which about 254.3 million are owned by Fu Yu to represent an equity interest of 70.64%.

Is Northstar's offer for Innovalues attractive or lowball offer?

SINGAPORE (Oct 27): KGI Securities is advising shareholders of Innovalues to accept PE firm Northstar’s proposed share offer, while Maybank Kim Eng thinks Northstar’s evaluation of the company is “at the low end” of its valuation range.

Both KGI and Maybank have kept Innovalues at “hold” with unchanged target prices of 91 cents and $1.15 respectively after the customised precision machine parts manufacturer posted a 10.9% decline in earnings on the absence of forex gains.

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