Concrete Engineering Products Bhd has received a takeover offer from YTL Cement Bhd, valued at RM2.60 per share, for a 53.49% stake in the company. The deal covers 32.92 million shares and is worth RM103.79 million, marking a 39% premium over Concrete Engineering’s last traded price of RM1.87 prior to trading suspension on Wednesday.
Privately held YTL Cement, the building materials arm of YTL Corporation Bhd, plans to extend the offer to all remaining minority shareholders in line with Bursa Malaysia’s listing requirements. The offer represents a premium of 60% to over 90% compared with the stock’s volume-weighted average prices over the past one month to one year. YTL Cement has stated that it intends to maintain Concrete Engineering’s listing status on the Main Market.
Among the sellers in the transaction are Inch Kenneth Kajang Rubber Public Limited Company, which held a 19.32% stake, and Datuk Dr Che Muhamad Fasir Samsudin, who sold a 4.09% stake, alongside his son Muhammad Firdaus Muhamad, who sold 4.67%. The disposal forms part of Inch Kenneth Kajang Rubber’s strategy to streamline non-core assets and focus on tourism, property development, and rubber manufacturing. The divestment is expected to generate proceeds of RM19.97 million for the group.
Concrete Engineering, which manufactures and sells prestressed spun concrete piles and poles, has seen its stock surge to a 19-year high of RM1.99 in late March 2026, following months of muted trading below RM1.17. Its shares will resume trading on April 2. The company reported narrowing net losses of RM2.88 million in 1QFY2026 from RM5.99 million a year earlier, with revenue rising 8.3% to RM13.08 million.
The takeover follows a series of shareholder adjustments, including the recent settlement of a RM16.8 million debt to Muhamad Fasir via the transfer of a 12.68% stake in Inch Kenneth Kajang Rubber, as well as exits by other family-linked holdings. YTL Cement’s offer is seen as a strategic move to gain control of a key infrastructure materials player while maintaining the company’s listing and operational continuity.
