Quek's consortium plans to plant roots in Malaysia

Article Abstract:

Publicly listed Malex Industries Bhd has announced plans to acquire the entire Brierley Investments Ltd. of New Zealand for 1.42 billion ringgit. Malex already controls 20.1% of the company. On a separate deal, Malex also announced plans to acquire a 39.62% stake in publicly listed steelmaker, Southern Steel Bhd., for 566 million ringgit. The consortium, led by Malaysian businessman Tan Sri Quek Leng Chan of the Hong Leong Group and Singapore's Sembawang Corp., will finance the acquisitions through the issuance of new Malex shares.

Diversified Companies, Planning, Conglomerate corporations, Mergers, acquisitions and divestments, Brierley Investments Ltd., Malex Industries Bhd., Southern Steel Bhd.

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Wing Tiek to get cash boost: steelmaker's shareholders try to calm banks

Article Abstract:

Shareholders of Malaysian-based steel manufacturer Wing Tiek Holdings Bhd led by businessman and managing director Datuk Joseph Chong plan to invest 100 million ringgit or $2.7 million to help restructure the firm after it had failed to meet loan payments to Deutsche Bank (Malaysia) Bhd and state-owned Bank Bumiputra Merchant bankers Bhd totaling 15 million ringgits. Westmont Holdings Sdn, which holds 29% of Wing Tiek, will meet with the firm's main bankers to arrange a financial restructuring plan for the firm.

Investments, Ching, Datuk Joseph, Wing Tiek Holdings Bhd.

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Malaysia is taking steps to bail out steelmaker

Article Abstract:

The Malaysian government has begun taking steps to fix state-owned steel company Perwaja Terengganu Sdn. Bhd.'s financial problems. It has ordered the company's executives to make arrangements to audit the firm's debts in both local and foreign lending institutions. A previous report has indicated Perwaja's debt at 5.7 billion ringgit. However, the government refused to comment in whether it will shoulder the debt payments.

Perwaja Trengganu Sdn. Bhd.

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