Top Glove’s billionaire founder buys stake in education company Yantoultra Ngui/Bloomberg April 13, 2021 14:12 pm +08
KUALA LUMPUR (April 13): Tan Sri Dr Lim Wee Chai, founder and executive chairman of the world’s largest rubber glove producer Top Glove Corp Bhd, has emerged as a minority shareholder in Malaysian private education group Minda Global Bhd.
“This is a private investment, separate from the Top Glove Group,” Lim said by email.
“I have always been passionate about education as it is instrumental in enabling people, organizations and nations to advance.”
Minda didn’t respond to requests for comment on the transaction.
Lim bought the shares in a recent placement and holds less than 5% of the Cyberjaya-based company, according to people with knowledge of the matter, who asked not be identified as the information is private.
Lim is Top Glove’s largest shareholder with a 33.6% stake that’s valued at US$3.3 billion, data compiled by Bloomberg show.
Lim also owns a stake in a property developer Tropicana Corp Bhd, in which he is chairman.
Minda runs institutions including the University of Cyberjaya, Asia Metropolitan University and Asia Metropolitan International School, according to its annual report.
The University of Cyberjaya focuses on medical programs.
Minda shares have doubled this year and currently trade at 12 sen apiece.
SMR Education Sdn Bhd, controlled by Minda’s group managing director and chief executive officer Palaniappan Ramanathan Chettiar, is the largest shareholder with a 53.5% stake in Minda, according to Bloomberg data.
Becareful, seriously need to becareful with your hard earn money.
All this while, MINDA is only worth RM0.06. Assume all the 84,000,000 new issue share are subscribed by LWC, his cost is only 84mil x 0.06 = RM5,040,000 only (equivalent to 1mil unit of Top Glove share only).
Why LWC invested in MINDA, because LWC and Minda Bosses are long time good friend, so when MINDA is facing cash flow problem, sure LWC will support. Because nowadays market only Glove maker has tonnes of cash, that why Tropicana, LBS all asking LWC to support.
For LWC, definitely he has no intention to involve in this MINDA business, so if the share price increase so fast from 6sen to 18sen, maybe LWC will dispose his investment, or maybe MINDA boss will dispose some also to cash out for his own personal purpose.
So, conclusion, becareful. If you oredi bought Minda before, then congratulation, but please dont greedy to chase high.
If you not yet buy, then forget about this, this money is not belong to you, dont chase.
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Posted by rabbit_4 > 2021-04-13 15:10 | Report Abuse
Thanks TomyamGong