Top Glove plunges 70 cents on alleged $240 mil overstatement of Aspion acquisition
https://www.theedgesingapore.com/top-gl ... cquisition
Considering the alleged overstatement of assets and valuations, Top Glove may have paid double the value of Aspion, given the purchase price of RM1.37bil.
According to TA Securities Research, under the worst case scenario, Top Glove may have to impair the goodwill of possibly up to RM640.5mil, if the group loses the legal case.
“For best case scenario, where Top Glove wins the legal case, which will result in potentially RM714.9mil or more claims.
TA Securities Research has reiterated its “buy” call on Top Glove.
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