It is believed that Riong Kali ‘leaked’ the deal to the press. The intention is very clear. ECM Libra has vested interest in property developer. Probably, they are looking into controlling E&O. The end game of the acquisition is most probably do an asset stripping exercise baloney style, ‘slice-by-slice’.
Sime Darby has gone on some adventurous forays in the past into uncharted territory. Often they did not turn out too well. The purchase of Sime Bank in the 90s was one such example - where Sime lost RM1.8 billion. The more recent oil and gas fiasco in Qatar was another. Sime was out for over RM1.2 Billion.