GO or no GO, Zarinah and SC under scrutiny


By Another Brick In The Wall

According to The Star’s analysis yesterday, the ball is on the Securities Commission’s feet or court, which ever way one may like to call it, to determine the party in control of Eastern & Oriental Berhad (E&O).

Sime Darby only purchase 30% stake in E&O from vendors Datuk Tham Ka Hon, Tan Sri Wan Azmi Wan Hamzah and GK Goh Holdings Ltd. The usual practise to require a Mandatory General Offer (GO) is 33% or more.

However there is more to it than just that.

Our highlight of the possibility of an insider trading infringement yesterday here by E&O Chairman and “Mrs Zarinah”, Dato Azizan Abdul Rahman and long time business associate, Dato Kalimullah’s ECM Libra attracted an interesting view from an anonymous commentator.

There is the possibility that Azizan and Kalimullah’s ECM Libra with their associates is taking a lucrative greenmail ride to cash out on a GO by Sime Darby.

This leads to the game Dato Nazir Abdul Razak’s CIMB is playing. Have this big bad ‘I Banker” been ethical in this dealing?