Rescue plan for Tekala after 5 consecutive years of losses

PETALING JAYA: After five consecutive years of operating losses, the directors of Tekala Corp Bhd have come out with a rescue plan – to go into property development and scale down its loss-making timber business.

To do this, the directors are proposing to swap their profitable personal property assets for shares in Tekala. This exercise will immediately turn around the ailing company.