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DESPERATE times call for desperate measures. Faber Group Bhd knows this only too well. Saddled with massive debts and exorbitant interest payments, the group needs to fast work out a plan to address its financial woes.
PROMET Bhd has signed a memorandum of agreement with businessmen Mahmud bin Ali and Mohd Shafie bin Mahmud to undertake a restructuring exercise involving capital reduction, debt settlement and acquisition of asset to regularise the company#146;s financial position.
THE Securities Commission (SC) has approved 129 corporate proposals in the final quarter 2002, bringing the total approved proposals for the year to 384.