Restructuring of Jin Lin to result in reverse takeover


INTEGRATED timber company, Jin Lin Wood Industries Bhd, is undertaking a restructuring plan involving a capital reduction, debt settlement and acquisition that will result in a reverse takeover of the company. 

Jin Lin said in a statement that it was proposing a 5-to-1 capital reduction, to settle debts owed and to buy two granite and marble companies, Syarikat Bukit Granite Sdn Bhd and Shanghai Gefung Marble & Granite Co Ltd, for RM126mil to be paid for with an issuance of new shares. 

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