A MALAYSIAN bidder has made a conditional offer for Hongkong (Macau) Holdings' stake in Hongkong-listed timber company China Industrial International Corp, according to a China Industrial statement. The offer price of the bid is $5 a share, compared with China Industrial's closing share price on Friday of $4.625, following a 52.5 cents gain. ''The approach is under consideration by Hongkong (Macau) Holdings but no negotiations with the potential offeror have commenced,'' said China Industrial. The bidder was described in the statement as an independent third party based in Malaysia. China Industrial, formerly called Axiom Forest Resources, has major timber concessions in the Solomon Islands. The conditions for the offer were not specified in the statement.
