In his letter, Chua has politely requested that Low Keng Huat’s independent directors ensure that the independent financial adviser (IFA) highlights Low Keng Huat’s revalued net asset value (RNAV) in the circular to shareholders.
Value investor Chua Bock Eng has written to Low Keng Huat’s board of directors asking the independent directors to engage with the offeror, to seek an improvement in the offer price. A fair compromise should, at the very least, match the book value of 79 cents, he says.
The offeror is a company with a paid up capital of $3 owned by Consistent Record Sdn. Bhd (CRSB). Low Keng Huat's managing director Marco Low Peng Kiat and his mother own CRSB. Low and his mother also have a deemed interest of 54.13% in Low Keng Huat.
