Press Metal to redeem sales proceeds into convertible secured loan stocks


KUCHING: Press Metal Bhd has received a further US$20.6mil (RM66.1mil) from Summit Global Management XII B.V.(SGM) for the sale of a 20% equity interest in Press Metal Bintulu Sdn Bhd (PMBSB).

PMBSB owns an aluminium smelter with installed production capacity of 320,000 tonnes per annum in Samalaju Industrial Park, Bintulu.

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