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Ceramic maker-cum-sanitaryware supplier Goh Ban Huat Bhd’s (GBH) largest shareholder Tan Sri Robert Tan Hua Choon has raised his stake to 82.5% following the close of the takeover offer yesterday.

In a filing with Bursa Malaysia yesterday, CIMB Investment Bank, which is representing Tan, said following his increased stake, the company no longer complied with the minimum 25% public shareholding requirement of Bursa Malaysia.

“Tan intends to keep the listing status of GBH. In this regard, Tan will use commercially reasonable endeavours to rectify the shortfall,” the investment bank said.

On Aug 24, Tan revised his offer price to RM1.50 per share from RM1.25 made on June 25 to attract more GBH shareholders to give up their shares.

AmInvestment Bank Bhd, appointed by the board of directors as independent adviser, had on July 30 advised shareholders against taking up Tan’s initial offer as it was too low.

Before taking into consideration the revalued land in Jalan Segambut where the company’s operations are located, the net tangible asset per share stood at RM2.54.

For the quarter ended June 30, GBH posted a net loss of RM4.96mil on revenue of RM7.33mil.

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Maxis Communications Bhd is “seriously looking” at a re-listing following the request by Prime Minister Datuk Seri Najib Tun Razak.

On the potential listing timeline, vice-president of enterprise and career business division, Mohamed Fitri Abdullah, said: “I cannot confirm on that.”

“We will make an announcement when the time is right,” Fitri said after launching a partnership with Cempaka Schools Malaysia yesterday.

In July, Najib asked Maxis to re-list on Bursa Malaysia to increase the market’s liquidity and attract investors.

Listed in 2002, Maxis was privatised in 2007 for close to US$5bil. The relisting is expected to raise about US$2.5bil, believed to be the biggest initial public offering (IPO) in Malaysia.

It was also reported that Maxis’ investment bankers had submitted part of the documents required for the listing to the Securities Commission.

Fitri said Maxis was on schedule to spend the RM1.6bil allocated this year to upgrade its network to accommodate the take-up of data-centric devices.

“We do see a big take-up of data-centric type of devices. We are doing a big push on mobile broadband and we need that to cater for our needs,” he said, adding that the upgrade would further enhance coverage and performance.

On the partnership with Cempaka, Fitri said close to 100 students of Cempaka International Ladies’ College (opening end-September) would receive iPhone 3GS as part of their virtual learning environment programme.

Fitri said the partnership with Cempaka marked the company’s foray into schools.

He said other schools had also indicated interest in a similar partnership.

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