Renong's asset, its history, is revealing its liability slide; Kuala Lumpur now struggles with bailout dilemmas
Article Abstract:
The Malaysian government is struggling to restructure the business sector, as some major conglomerates, particularly Renong Bhd, have been crippled by the Asian financial crisis. Renong, once the largest provider of government revenues, is now saddled with huge debts and is recently seeking financial assistance from the government. However, it appears that the Malaysian government would likely refuse from granting Renong's request, as it strongly pushes for massive privatization of the business industry.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Malaysian court freezes Renong executive's shares
Article Abstract:
A Malaysian Islamic court has issued an injunction prohibiting Renong Bhd. CEO Tan Sri Halim Saad and his agents or trustees from selling his controlling equity stakes in the company and in two other firms that own Renong stock. The hold order was sought by his estranged wife Puan Sri Norani Zolkiffli and will remain in effect until the completion of couple's divorce proceedings. Puan Sri Norani is asking for 500 million ringgit in compensation and 50% of her husband's assets.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1996
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Escalating family squabble at Renong is closely tracked by Malaysian elite
Article Abstract:
The family dispute at Renong Bhd. has taken another turn with the ouster of Norani Zolkifli from the company board. Norani's ouster is believed to be linked to her bitter divorce and custody battle with her estranged husband, Renong Exec. Chmn. Halim Saad. Sources disclosed that Norani's ouster was necessary because her feud with Halim was already starting to affect corporate affairs.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1996
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