“We might also be looking at a sale of the company (Pimpinan Ehsan) if the deal is fair and reasonable.”

IBRAHIM TOPAIWAH, Outgoing TRIplc Bhd director

Whatever it is, we will do what is best for the shareholders. IBRAHIM TOPAIWAH

Outgoing TRIplc Bhd director

SHAH ALAM: Pimpinan Ehsan Bhd is weighing a sale of the company in a deal that could fetch more than RM70 million.

Pimpinan Ehsan recently assumed the listing status of TRIplc Bhd. The sale will offer the buyer a shortcut to listing on the Main Market of Bursa Malaysia.

Pimpinan Ehsan has less than 12 months to decide on the future of the company after the disposal of TRIplc to Puncak Niaga Holdings Bhd.

TRIplc shareholders would first have to exchange their shares on a one-to-one basis with new Pimpinan Ehsan shares of RM1 each before the disposal.

The exercise, together with the listing transfer from TRIplc to Pimpinan Ehsan, is expected to be completed in May.

Outgoing TRIplc director Ibrahim Topaiwah, who will be appointed as one of Pimpinan Ehsan’s directors, said he will present its plans to shareholders in April to retain confidence and maintain its share price performance. “We will have our first meeting on this (the direction of the company) with the board. We will look at a new core business, probably a new management team as well as a possible expansion plan of the core business.

“We may also look at a sale of the company if the deal is fair and reasonable. Whatever it is, we will do what is best for the shareholders,” he told reporters after the company’s extraordinary meeting (EGM) here yesterday.

Ibrahim said the company has around RM70 million to invest in a new business.

At the EGM, more than 99 per cent of TRIplc shareholders approved the transfer of its listing status to Pimpinan Ehsan and disposal of TRIplc to Puncak Niaga as well as a special dividend.

“There was an overwhelming response from the shareholders because we believe this is the best deal for us,” he added.