Tanco on the mend

(From left) Tanco Holdings executive director Chan Chee Meng shaking hands with Impiana Hotels and Resorts Management Corporate Strategies and Hotel Operations executive director Francis Chung after the signing ceremony to mark Impiana's engagement as operator of Splash Park Suites. Looking on are Tanco Holdings group executive director Datuk Lynne Tan, Impiana Hotels and Resorts Management (IHRM) executive chairman Datuk Seri Farouk Abdullah (grey hair) and IHRM executive director (corporate) Mohd Yusof Muhammad Isahak (far right).

PETALING JAYA: Tanco Holdings Bhd, the property developer known for projects such as Bandar Country Homes in Rawang and Duta Vista in Damansara, is seeking shareholders approval for a restructuring exercise aimed at helping the company to start afresh.

At its annual general meeting this Friday, Tanco shareholders will be voting on a proposal that includes a par value reduction exercise that would give rise to a credit amount that in turn will be utilised to set off against all its accumulated losses.