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Washing Dirty Linen in the Public
$SAPRES (4596.MY)$ Due to different opinion on the investment property - Permata Sapura, the younger brother is filing winding up application to the holding company of Sapura Resources Bhd, Sapura Holdings Sdn Bhd to split up the assets among the shareholders.
If High Court approves, we will see $SAPRES (4596.MY)$ lost of major shareholder’s control and the remaining assets are lucrative given their stable earnings as compared to Permata Sapura which needs at least 3 years to chalk out 1st profit due to overhang office building experienced in Kuala Lumpur City Centre.
It will be good that the brother goes separate way and it will even be better for the brothers to take over and privatise the Company at 45 sen so that public won’t see their washing of dirty linen.
Why 45 sen? because this is the price corporate raider will pay to earn the difference between market price and the underlying assets.
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Started share investing since 18 years old, still honing the skills for greater good in days to come.
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