In today’s briefing:
- PEC Ltd. (PEC SP): 5th May Vote On Liberty’s Offer
- Grab Holdings (GRAB US) – New Products with a Heavy Hint of AI
PEC Ltd. (PEC SP): 5th May Vote On Liberty’s Offer
- Back on the 17th Feb, PEC Ltd. (PEC SP), a plant and terminal engineering specialist, announced an Offer from Allied Energy Services, an engineering entity under the Liberty Group.
- Liberty offered S$0.84/share (not final), including a AS$0.20/share special dividend, a 12.8% premium to undisturbed; but more like a >35% premium. Irrevocables from the board of 63.38% had been secured.
- The Scheme Doc is now out, with an EGM on the 5th May, with payment on or before the 20th June. The IFA (Deloitte) says “fair & reasonable“.
Grab Holdings (GRAB US) – New Products with a Heavy Hint of AI
- Grab hosted “GrabX” in Singapore and online to showcase a range of AI-driven product offerings that promise to be future growth drivers for the company.
- GrabFood For One and Shared Saver both have the potential to attract significant new business, but there was also the launch of AI-assistant Maya for Merchants to drive orders.
- Additionally, Grab Unlimited continues to grow and be transformed into a fully-fledged loyalty program. Valuations are attractive, and Grab is set to make a net profit this year.
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