CLOSER TO RM1 BEE. I have been told that Syed Mokthtar Al Bukhary has submitted this week a revised bid to acquire a 32.3 per cent stake in POS Malaysia Berhad. The stake belongs to Khazanah Nasional Bhd and the Government has a gold share in the company. Last year, the tycoon was on the verge on winning the a bid to control POS Malaysia, with a RM700 million offer but was asked at the last minute to resubmit a fresh offer as Khazanah deemed the bid to be too low. The dudes at Khazanah felt that once the Postal Land Act is revised, there will be a relaxation in the use of Pos Malaysia land so they thought that called for a premium.
SMAB's new offer is in range of RM1 billion, and he will not seek to strip the Government of its golden share.