Hong Leong Asia extends Tasek takeover deadline to July 17

HONG Leong Asia has extended its bid to take over Malaysia-listed cement manufacturer Tasek, the Hong Leong board said on Friday night.

Hong Leong Asia, which is making the offer through its HL Cement and Ridge Star units, is pushing the deadline for acceptances to July 17, from June 23 before.

The group now controls 96.72 per cent of Tasek, including shares for which acceptances under the offer have been received but are still subject to verification.

Hong Leong Asia is the trade and industry arm of the Hong Leong Group, and Tasek chairman Kwek Leng Peck is also executive chairman of Hong Leong Asia.

Hong Leong Asia shares added half a Singapore cent, or 0.96 per cent, to S$0.525 on Friday, on a cum-dividend basis, before the latest announcement.