KUALA LUMPUR -- An independent advisor says Comintel's proposed divestiture of its EMS unit, BCM Electronics is fair and reasonable, and not detrimental to the interest of non-interested shareholders.

KAF Investment Bank is recommending shareholders approve the proposed sale to a company partly owned by executive director Loh Hock Chiang.

Under the deal, Comintel would sell BCM to Aurelius Holdings for RM123.8 million ($31 million), a move the firm said would allow it to focus on its core business of green waste management and would unlock unrealized value in the EMS unit.

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