CK>> Yesterday, there was a separated announcement from Jotech, AIC and AutoV about the submission of merger application to SC to seek it approval. Great to see another big step forward for this merger proposal. Everything seems like goes smooth and all the required stages and process are in schedule.

29-July: Received takeover offer.
22-Aug: AutoV's non-interested directors accepted the offer.
24-Aug: Jotech & AIC's non-interested directors accepted the offer.
15-Sep: All parties entered into merger agreement
20-Oct: Submitted application to SC

Perhaps this is the mistake I've done for ENG, because I didn't follow up closely on each of the stages. ENG still stuck there, haven't proceed to sales of business agreement and submission of application to SC. FYI, ENG received takeover offer on 22-July, which was a week earlier compared to this merger proposal. But the process of ENG was completed stop right after non-interested directors accepted the offer.

Let's see how fast can this merger proposal proceed. Surprisingly, up to today, this merger process is much faster than previous Sunway + Suncity merger process. Hopefully they keep this up and announcement the EGM ASAP.

FYI, there will be an EGM for AutoV end of this month, but that is nothing to do with this merger. That is for separated deal, whereby AutoV is going to takeover another sdn. bhd. company, it needs to seek approval from its shareholders.