Laborer rises to head appliance venture, then tumbles
Article Abstract:
The fall of Malaysian industrialist Teong Tek Leng in Spring 1997 came shortly after the Malaysian government tightly restricted commercial lending on Mar 28, 1997. Shortly after that move, the stock prices of Kuala Lumpur Industrial Holdings Bhd (KLIH), which he controls, and the closely linked Rahman Hydraulic Tin Bhd began to tumble. Trading in the stock of the two firms has been suspended since Apr 28, 1997. Teong rose to prominance after KLIH subsidiary Malaysia Electric Corporation Sdn Bhd was chosen in 1996 to head Malaysia's push to develop a consumer electronics manufacturing industry.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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Renong rescue plan altered
Article Abstract:
The Malaysian government's plan to help the debt-stricken Renong Bhd, a conglomerate linked to Prime Minster Mahathir Mohammad's ruling party, was modified to avoid criticism that the government is favoring well-connected corporations. The new plan calls for Projeck Lebuhraya Utara-Selatan Bhd to issue $2.24 billion worth of bonds instead of the original plan to issue government-guaranteed bonds. However, financial executives claim that the new plan will not spare the government from criticism.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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Lion's restructuring may soothe investors' fears--for now
Article Abstract:
Malaysia's Lion Group introduces its debt restructuring plan giving hope to its skeptical investors.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 2000
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