THE latest RM1.8bil capital injection by China’s Tianjin Zhiyuan Investment Group Co Ltd into Perwaja Holdings Bhd is not the first rescue plan to revitalise the ailing steel producer.
Since it was set up in the early 1980s, several attempts have gone into resuscitating Perwaja, but all have failed. It is estimated that more than RM15bil has been lost in the process.
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