Companies that provide short-term consumer loans at high interest rates are on the increase in countries like Indonesia and the Philippines as many people struggle to get advances through traditional channels such as banks.
PETALING JAYA: The Boon Siew group is not involved in the purchase of a piece of land that the state of Penang had alienated to a private company with the mandate to undertake RM6.34bil worth of infrastructure projects.
In a statement, the Boon Siew group said one of its shareholders was approached pertaining to the purchase of land measuring 22.92 acres from Consortium Zenith Construction Sdn Bhd (CZC), but no decision has been made by him in respect of his involvement in the transaction, as all matters are at a very preliminary stage.
