Longer Boustead restructuring likely

According to Minority Shareholders Watch Group (MSWG) chief executive officer Devanesan Evanson, with the privatisation plan being cancelled, there will be greater transparency and timely disclosure of material information regarding Boustead’s restructuring.

PETALING JAYA: With the takeover offer for Boustead Holdings Bhd being scrapped after two rounds of extensions, there are concerns that the loss-making group’s restructuring exercise may take longer to complete.

Market observers said the decision by the Armed Forces Fund Board (LTAT) to abandon the privatisation plan may not derail Boustead’s efforts to return to profitability and reduce its massive debt burden.