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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Khazanah divests entire equity interest in Time Engineering for RM70mln

Posted on 13 September 2013

Khazanah Nasional Bhd has divested its entire equity interest of 45.03% in Time Engineering Bhd to Censof Holdings Bhd at 20 sen per share for RM69.8mil cash. This confirms StarBiz’s report on Aug 15, which said that Censof, a low-profile information technology (IT) solutions provider, was close to becoming Time Engineering’s new shareholder and would be paying between 18 sen and 28 sen for the stake in the company.
At 20 sen per share, it is a 40% discount to Time Engineering’s last traded price of 28 sen………………………………………..Full Article: Source


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