Halim to the rescue; Malaysia seeks succour for state-owned Perwaja
Article Abstract:
Tan Sri Halim Saad may soon take over the state-owned Perwaja group in an to help cut its losses, estimated to total nearly $2.5 billion last Mar 31. The govt had earlier persuaded Tan Sri Eric Chia to be managing director, but he resigned in Aug, and govt economic adviser Tun Daim Zainuddin was reportedly tasked to find a successor. The Economic Planning Unit wanted to privatize Perwaja, with bids due in Mar 1996, but that may wait. Halim may hope his M$20 billion bid for 32% of Telekom Malaysia will be approved as a reward.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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On debt row: Malaysian steel maker stumbles, but isn't likely to fall
Article Abstract:
State-owned steelmaker Perwaja Terengganu, Malaysia's largest steel producer and a pet project of Prime Minister Mahathir Mohamad, is insolvent, and none of the solutions is highly attractive. Simply closing it is not politically feasible, given the company's 4,000 workers, total loans of more than $2 billion, and a cost to taxpayers up up to $3.3 billion. Maju Holdings head Abu Shahid could take it over, with the Renong group's Halim Saad and Amsteel's William Chen backup candidates, or the group could be restructured.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
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What next?: Malaysia's policy flip-flops and lambasting of foreign speculators have many investors reassessing the Asian tiger and its neighbours
Article Abstract:
Malaysia's economy is starting to slow down after nearly 10 years of growth, and the government introduced trading restrictions in early September after panic dumping of Malaysian stocks. The cost of borrowing has risen due to the weak ringgit and the risk premium of investing in the country will rise. Recent policy reversals have damaged Malaysia's credibility and placed doubts on its ability to become a regional finance centre.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
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