We specialise in advisory services in corporate finance and investment advice, supported by research capabilities in specific sectors namely mining, renewable energy, infrastructure, patented / digital technologies, agriculture and plantation in selected emerging economies by ongoing research, analytical tools such as Bloomberg and analysis of public information.
independent advice letters, purchase price allocation reports, independent valuation report
Past CredentialsAER is a company licensed to perform advisory services in corporate finance and investment advice, by the Securities Commission Malaysia. We are supported by a team of qualified professionals with background in finance qualifications and industry experiences. We provide corporate finance services namely in the compliance related aspects with the local regulations for listed companies in Malaysia. We provide independent research reports, covering a broad range of sectors covering both stocks and regional macro and micro economics. We also provide fund advisory services in assisting our clients in structuring and arranging funding for the energy and infrastructure sector in Indonesia and other emerging markets.
We are committed and passionate with our work. We believe with our in-depth technical knowledge and industry experiences, we are able to add value in any corporate activities that we participate
APPRAISING THE FAIR VALUE OF THE ENTIRE EQUITY INTEREST IN JENTAYU SOLAR AND ISSUED AN INDEPENDENT VALUATION CERTIFICATE.
AER USED THE INCOME APPROACH (FREE CASH FLOW TO FIRM METHOD, FCFF) TO VALUE JENTAYU SOLAR, RESULTING IN A FAIR VALUE RANGE OF RM11.31 MILLION TO RM11.55 MILLION FOR THE ENTIRE COMPANY. THE CONSIDERATION PAID FOR 51% (RM5.87 MILLION) AND THE CALL OPTION PRICE FOR THE REMAINING 49% (RM5.64 MILLION) WERE BENCHMARKED AGAINST THIS VALUATION. THE KEY BASIS BEING THAT WACC (5.90%) AND EQUITY DISCOUNT RATE (13.36%), BASED ON MANAGEMENT’S PROJECTED CASH FLOWS AND SECTOR BENCHMARKS, TO REACH ITS VALUATION ASSESSMENT.
JENTAYU SUSTAINABLES BERHAD ("JSB") IS THE ACQUIROR, ACQUIRING A 51% EQUITY INTEREST IN JENTAYU SOLAR SDN BHD FOR RM5.87 MILLION VIA A SET-OFF ARRANGEMENT, WITH AER ACTING AS THE INDEPENDENT VALUER TO DETERMINE THE FAIR VALUE OF THE ASSET.
SUMMARY OF TRANSACTION PARTIES
ACQUIROR: JSB
ACQUIREE ASSET: JENTAYU SOLAR SDN BHD (A COMPANY PRINCIPALLY INVOLVED IN SOLAR POWER GENERATION WITH AN OPERATING SOLAR PHOTOVOLTAIC FACILITY IN KEDAH, MALAYSIA)
PERCENTAGE ACQUIRED: 51% EQUITY INTEREST (1,530,000 ORDINARY SHARES OUT OF 3,000,000 TOTAL SHARES)
CONSIDERATION AND PAYMENT METHOD
CONSIDERATION: RM5.87 MILLION FOR THE 51% EQUITY STAKE
METHOD OF PAYMENT: THE PAYMENT IS MADE ENTIRELY VIA A SET-OFF ARRANGEMENT. THIS MEANS THE SUM IS SET OFF AGAINST REFUNDABLE CASH DEPOSITS PREVIOUSLY PAID BY JSB TO JENTAYU CAPITAL (THE VENDOR) RELATING TO ANOTHER DEAL (THE TERMINATED ACQUISITION OF HYDRO ASSETS). NO ADDITIONAL CASH OUTFLOW IS REQUIRED FOR THIS PORTION.
APPRAISING THE FAIR VALUE OF 60% EQUITY INTEREST IN SHAPADU ENERGY SDN BHD.
ACQUIROR: GFM SERVICES BERHAD (“GFM”)
VENDOR: SHAPADU CORPORATION SDN BHD (“SPC”)
TARGET ASSET: 60,000 ORDINARY SHARES IN SHAPADU ENERGY SDN BHD ("SHAPADU ENERGY") REPRESENTING 60% EQUITY INTEREST. SHAPADU ENERGY OWNS 60% EQUITY INTEREST IN SHAPADU CORPORATION SDN BHD ("SCRA") AND 40% BENEFICIAL OWNERSHIP OF EQUITY INTEREST IN SCRA.
PURCHASE CONSIDERATION: RM30.00 MILLION, TO BE SATISFIED ENTIRELY VIA CASH
ADDITIONAL TERMS: GFM GRANTS SPC A CONDITIONAL CALL OPTION TO REPURCHASE 15% EQUITY INTEREST IN SHAPADU ENERGY FOR RM10.00 MILLION, EXERCISABLE WITHIN 24 MONTHS FROM COMPLETION.
INDEPENDENT ADVISER TO NON-INTERESTED SHAREHOLDERS OF SEDANIA INNOVATOR BERHAD REGARDING A PROPOSED PRIVATE PLACEMENT OF UP TO 20% OF ISSUED SHARES AT A PRICE TO BE DETERMINED, AND AN INTENDED ACQUISITION OF AN ADDITIONAL 29% EQUITY IN OFFSPRING INC SDN BHD FOR RM17.4 MILLION IN CASH.
YNH HOSPITALITY SDN BHD ("YNHH"), A WHOLLY-OWNED SUBSIDIARY OF YNH PROPERTY BHD, SERVES AS THE VENDOR IN THIS TRANSACTION, WITH KAR SIN BHD ("KSB"), ALSO WHOLLY OWNED BY YNH PROPERTY BHD, ACTING AS THE REGISTERED OWNER HOLDING THE PROPERTY IN TRUST FOR YNHH. THE PURCHASER IS RHB TRUSTEES BERHAD ("RHBT"), OPERATING AS TRUSTEE OF SUNWAY REAL ESTATE INVESTMENT TRUST ("SUNWAY REIT"). THE PROPERTY ASSET INVOLVED IS AEON MALL SERI MANJUNG, LOCATED AT PUSAT PERNIAGAAN MANJUNG POINT 3, 32040 SERI MANJUNG, PERAK, COMPRISING A PARCEL OF COMMERCIAL FREEHOLD LAND ALONG WITH A TWO-STOREY RETAIL SHOPPING CENTRE AND CARPARK BAYS. THE DISPOSAL PRICE HAS BEEN SET AT RM138 MILLION, WHILE THE FAIR VALUE OF RM145.5 MILLION WAS DETERMINED BY INDEPENDENT VALUER.
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