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.
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