KUALA LUMPUR: Vastalux Energy Bhd had entered into an agreement with Nik Hamdan Daud, the controlling shareholder of PBJV Group Sdn Bhd for the purpose of a corporate restructuring following its Practice Note 17 (PN17) status.
This proposed restructuring scheme is subject to the approval of the Securities Commission and both parties have agreed in principal to their participation in the scheme within the parameters and terms set out in the agreement. Both PBJV Group and Vastalux are involved in the oil and gas industry.
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