Will Ranhil successful privatised Ranhil Utilities?

Last Saturday The star headlines about possibility of Ranhil Utilities By Ranhil. Ranhil share price sharp rise since Nov 2006 http://failinvestment.blogspot.com/2006/11/ranhil-utilities-171.html My previous posting Nov 2006it still stand at RM 1.70 compared to current pricing of RM2.90

There is an Rumour said Ranhil will privated RU at price 3.30 to 3.50. Does Ranhil ability to do so? If you look at financial report Ranhil is extremely high gearing .(short term loan > short term cash in hand by 5 time) and there are huge value of intercompany loan between RU and Ranhil. Ranhil goodwill badly impact by bad paymaster in the market. Most of the profit generated by SAJ or RU are taken as loan to Ranhil to settle the debt of Ranhil.

One of the reason to privatised is to settle inter-company balance. If 100% own by ranhil there will be no issued of loan repayment and Ranhil can directly taken cash from this cashcow. Currently, there is an issued to paid back loan relate to RU.
But for Privatised the Ru at this price, there is an issued to borrowing and increased the gearing or debt level again.

Ranhil is bumi company with ability to win the project in oversea. Due to the reason above. At this price of RM2.90 investor know wat to do lar.