KUALA LUMPUR: Insas Bhd
has proposed to inject its wholly-owned subsidiary M & A Securities Sdn Bhd into SYF Resources Bhd.
Under the proposal, Insas will dispose of its 100% equity stake in M&A to SYF, comprising 100 million ordinary shares and 60 million redeemable convertible preference shares, in exchange for 1.58 billion new SYF shares, valuing M&A at RM222mil.
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