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PUBLISHED: May 16, 2014 2:30pm

Ricky Wong launches TechFast takeover

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KUALA LUMPUR, May 16:

RISING entrepreneur Datuk Rick Wong Shee Kai is aiming to gain control of a third Bursa-listed firm with a takeover offer made to Techfast Holdings Bhd.

The founder of  Asia Media Group Bhd, who gained control of Bright Packaging Industry Bhd last year, is making an offer of 26 sen per TechFast share, which was last traded at 24 sen each as at 2pm today.

Should TechFast pay out any dividends after this takeover offer, the offer price of 26 sen per TechFast share will be reduced accordingly. The offer does not extend to Techfast treasury shares and is valid till June 6 unless it is extended.

The offer is being made via his Wong SK Holdings Sdn Bhd and TechFast said in its Bursa filing today that its listing status is expected to be maintained should the takeover succeed.

Wong, who now has a 14.45% stake in TechFast, was honoured on March 11, 2014 by the World Economic Forum as a “Young Global Leader” this year – an award to recognise the most distinguished leaders under the age of 40.

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