Bumiputra Bank eyes rescue
Article Abstract:
Bank Bumiputra Bhd. will likely be bailed out by the Malaysian government for the third time in its history. The state-owned bank is expected to report more than 1 billion ringgit in losses for the fiscal year ended March 1998. The government would need to put in an equal amount of cash into the bank to ensure its survival. The government is also planning to implement a management change in the company, which would be required to make even larger provision for troubled loans as the economy continues to be troubled by a weak stock market and property industry.
Comment:
Will likely be bailed out by the Malaysian government for the third time in its history
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Tycoon's deal draws attention within Malaysia
Article Abstract:
The trial of Malaysian former deputy premier, Anwar Ibrahim, possibly affected the plans of tycoon Lim Thian Kiat to sell his controlling stake in Multi-Purpose Holdings Bhd. The Malaysian government had approved the initial negotiations between Chan Chin Cheung, director of the Renong Bhd, and Datuk Lim for the takeover of Multi-Purpose. Business partners of Lim are also close allies of Anwar and other corporations are closely monitoring the political events that might also affect their operations.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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Time Engineering may strike gold with telcom unit
Article Abstract:
The article discusses Time Engineering Bhd.'s plans to use Malaysia's most extensive fiber-optic network to launch itself into the new economy, but foreign and institutional investors are concerned about the company's huge debt. The firm has renamed its wholly owned telecommunications subsidiary, Time Telecommunications Bhd., TimedotCom Bhd., and revamped its management.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 2000
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