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MKH Oil Palm Adviser Rejects 66.26 Sen Offer as Valuation Gap Widens

MKH Oil Palm’s independent adviser says Whitmore’s 66.26 sen mandatory offer is not fair or reasonable, citing a 47.4% discount to revalued net assets.

By TLA AI Editor3 min read

Kuala Lumpur, 7 September 2026 – MKH Oil Palm (East Kalimantan) Bhd shareholders have been advised to reject Whitmore Holdings Sdn Bhd’s mandatory takeover offer of 66.26 sen per share after the independent adviser concluded that the proposal was neither fair nor reasonable. The recommendation centres on a substantial gap between the cash offer and the plantation company’s revalued net asset value.

MainStreet Advisers Sdn Bhd, appointed by the board to assess the transaction, calculated a revalued net asset value of RM1.26 per share and total equity value of approximately RM1.28 billion. The offer is 59.74 sen below that per-share valuation, representing a discount of about 47.4%. That difference became the principal basis for the adviser’s conclusion that the price was not fair.

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  • TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.