Can I ask where you get the idea that there is a Malaysian cornerstone investor with 30% of SG Fleets equity ?
Maybe you are referring to Super Group ? They are South African and post the IPO they have a controlling stake of almost 51%. The CEO and the CFO (both South Africans) have a pretty tight relationship with the biggest shareholder - the CFO used to work there.
I would put the likelihood of MMS acquiring them at somewhere between zero and none.
Smart Salary was openly for sale prior to its IPO and could have been bought much cheaper privately in 2013.
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