Shareholders give nod for Wing Tiek debt restructure

FINANCIALLY distressed Wing Tiek Holdings Bhd has finally secured the last of its shareholders' approvals to finalise a group corporate debt restructuring scheme that would see another company taking over its listing status in two months' time. 

Wing Tiek managing director Chen Cheong Fat told a press conference after the company EGM in Kuala Lumpur yesterday that JAKS Resources Bhd, will take over Wing Tiek's listing by July, “provided that all necessary documents are in place.”