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Thursday, August 14, 2014

PDZ denies report on asset-buy, corporate exercise talks (Edge)

PDZ Holdings Bhd has denied news reports indicating that the shipping firm was in discussion with certain parties to acquire assets and undertake corporate exercises in Indonesia or Malaysia.

In a statement to Bursa Malaysia, PDZ said the potential assets were part of the company's business plan formulated in general terms. PDZ said the plan might involve fund raising exercises, including a rights issue.

The firm said any due diligence on potential assets was only part of the normal business process and governance undertaken by the company.

Nevertheless, PDZ said it was keen to explore potential acquisitions or exercises that would enhance shareholder value. PDZ said Asia Pacific was a key market for the company.

“As a growth-oriented company and in line with our transformation plan, PDZ is keen to explore any potential acquisitions or exercise,” it said.

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