State investor Permodalan Nasional Bhd (PNB) roped in Liew as a joint bidder and improved on its September 2011 solo bid of RM3.90 a share for the property developer.
The joint bidders are now offering RM3.95 for each SP Setia share and 96 sen for each warrant, instead of 91 sen before.
The revised offer will be a win-win situation for both parties as PNB could leverage on Liew's expertise in the running of SP Setia while SP Setia will have the backing of a strong shareholder.
Market observers advice investors were better off holding on to the shares given that there will be management continuity for three years.
Under the new deal, Liew will keep his 8.56 per cent stake in SP Setia and remain as its group president and chief executive officer for three years, during which he will have sole responsibility for the mana-gement and general conduct of the business. No changes will be made to the board, and PNB will keep its two board seats.
The news removes uncertainty over the future of SP Setia, particularly with regard to Liew's involvement. With PNB's backing, SP Setia stands an even better chance when bidding for government land parcels.
Liew indicated that SP Setia is soon signing the Bangsar land deal, which is estimated to yield a gross development value of RM10 billion.
The joint bidders are now offering RM3.95 for each SP Setia share and 96 sen for each warrant, instead of 91 sen before.
The revised offer will be a win-win situation for both parties as PNB could leverage on Liew's expertise in the running of SP Setia while SP Setia will have the backing of a strong shareholder.
Market observers advice investors were better off holding on to the shares given that there will be management continuity for three years.
Under the new deal, Liew will keep his 8.56 per cent stake in SP Setia and remain as its group president and chief executive officer for three years, during which he will have sole responsibility for the mana-gement and general conduct of the business. No changes will be made to the board, and PNB will keep its two board seats.
The news removes uncertainty over the future of SP Setia, particularly with regard to Liew's involvement. With PNB's backing, SP Setia stands an even better chance when bidding for government land parcels.
Liew indicated that SP Setia is soon signing the Bangsar land deal, which is estimated to yield a gross development value of RM10 billion.
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