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Star Media Group: An unreasonable, value-destructive related-party transaction with Matang

Tong Kooi Ong & Asia Analytica
Tong Kooi Ong & Asia Analytica • 11 min read
Star Media Group: An unreasonable, value-destructive related-party transaction with Matang
Photo Credit: Star Media Group Annual Report 2022
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The above are questions I have sent to Star Media Group, ahead of its extraordinary general meeting (EGM) scheduled for May 31. I intend to vote against the resolution on the proposed disposal of two units of double-storey, semi-detached factory and warehouse annexed with a 1½-storey office building plus other ancillary buildings to plantation group Matang for RM33 million. Here are my reasons.

Why accept Matang shares instead of all-cash as the disposal consideration?

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