China firm to ink rescue deal with Perwaja today

Major shareholder: Abu Sahid will help increase market confidence in the corporate deal of Perwaja, says an observer.

PETALING JAYA: A steel company from China is taking another step closer to being a white knight for beleaguered Perwaja Holdings Bhd.

Perwaja, which is a Practice Note 17-classified company due to its financial shortcomings, and China’s Tianjin Zhiyuan Investment Group Co Ltd will sign a conditional master framework agreement today to “revive and transform” the Kemaman plant.

Get 30% off with our ads free Premium Plan

Monthly Plan


Annual Plan


Billed as RM103.60/year

1 month

Free Trial

For new subscribers only

Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , Perwaja , steel , China


Next In Business News

TM shares rally after strong FY23 performance
Foreign investors extend net buying of local equities for fifth week
Ringgit slightly up against US$, most other major currencies
FBM KLCI trades in consolidation as heavyweights earnings in store
Trading ideas: Sime Darby Property, IOI, Telekom, Mi Tech, Greatech, Malakoff, Matrix, Sports Toto and SAM
‘Eye-popping’ results unlikely, says Buffett
Bond markets flooded with deals to fund M&A
Jakarta opens 2024 with 8% drop in January tax revenue
Sweet situation in store for MSM’s prospects
Woodside to sell US$1.4bil stake in gas project

Others Also Read