Operations at the Kemaman plant had halted since August 2013 and the restarting of the operations here will bode well for Perwaja.
PETALING JAYA: Steelmaker Perwaja Holdings Bhd’s shares soared 50% or 8.5 sen to 25.5 sen yesterday after it formalised the agreement with China’s Zhiyuan Investment Group Co Ltd to revive its Kemaman Plant in Terengganu.
A person with knowledge of the matter said Zhiyuan could be taking a portion of the PN17 company’s private placement and also underwrite the rights issue.
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