Halim Saad wins again with UEM put option

What a Christmas gift! After a year of speculation about Halim SaadÆs put option, he wins (again).

If you follow Malaysias ups and downs although increasingly, few people do these days you will know that the central question on peoples lips this year was whether Tan Sri Halim Saad would honour his put option to United Engineers Malaysia UEM.

The answer has hardly left the cynics surprised.

The said put option was granted to UEM in the wake of UEMs purchase of Renong stock in 1997. The UEM purchase was widely considered to be one of the corporate governance low points of the Asian crisis, because cash-rich UEM bought a third of its ailing parent, Renong, at the inflated price of M$2.34 $0.62 a share using up...

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