Pretty interesting situation, and I remember Jeremy Raper who is...

Pretty interesting situation, and I remember Jeremy Raper who is a pretty smart guy had a lot of interest in this as an activist investor but just couldn't see a way to unlock value here, as it turns out his thesis was right but his timing wrong and MLX management have unlocked value and this unlikely but possibly transformational deal will be interesting to watch.

I wouldn't be surprised if Greentech HK coffers are empty and others here have alluded to various disputes between Malaysian and Mainland Chinese about what is going on there. You would have to imagine that China Yunan Tin will have to respond (and indeed might even have their marching orders to respond directly from Party HQ in Beijing). Potential for booby traps remain in the accounts and litigation re Greentech but a very opportunistic move by MLX and a possibly elegant way of de-China-ifying their business.

I can't imagine that Australia's FIRB will be able to do anything about the MLX bid for Greentech, or indeed any future counter-offer from China YunanTin as Greentech is domiciled in Hong Kong, the HK SFC is the relevant regulator. Obviously, if any Chinese party were to make a bid for MLX that would not make it past FIRB.