Asia Equity Research Sdn Bhd said the offer price of the company’s selective capital reduction and repayment (SCR) of RM6.15 per share is below the estimated fair value of the company’s shares. As at the latest practicable date, DKSH Resources and parties acting in concert collectively own about 74.36% in DKSH Malaysia. Pangolin, through its long-term value fund Pangolin Asia Fund, holds 2.71% of DKSH Malaysia, representing 10.55% of the 40.5 million shares held by minorities. The adviser estimated the fair value of the shares at RM7.31 each, meaning the SCR price represents a discount of RM1.16 or about 15.87% based on sum-of-parts valuation analysis. As a secondary valuation benchmark, the offer price is also below the company’s net asset value of RM7.06 per share, implying a discount of about 12.89%.

Source: The Edge Markets March 09, 2026 11:43 UTC