THE Wing Hing Group has confirmed it is a bidder to take over the stricken MKI Corp. The company said yesterday it had put a proposal to the Securities and Futures Commission and the stock exchange. Wing Hing managing director George Ng Tat-leung said the bid was made in view of the intended liquidation of MKI, which would have left shareholders with nothing. Under the takeover proposal, Wing Hing would own 52.5 per cent of MKI's shares, while Score Line would own 15 per cent and Glado, a China Insurance subsidiary, 7.5 per cent. The proposal stated that the new company would issue new shares to the existing shareholders of Wing Hing, Score Line and Glado for a cash injection of $30 million to MKI. Asked whether $30 million investment capital was adequate for future development of the new company, Mr Ng said there were no plans to raise funds for expansion this year. Algy Cluff, a British oil tycoon who was rumoured to be linked to a third bidder, last night denied involvement.