KUALA LUMPUR: LUSTER INDUSTRIES BHD []'s (LIB) proposed restructuring exercise, which includes a capital reduction, share split, debt settlement, rights issue and placement, has been rejected by Bursa Malaysia Securities Bhd.
In a statement yesterday, LIB said Bursa Securities had expressed concerns on its ability to turn around its financial performance and operations given that the proposals involved the company maintaining similar business activities as well as concerns on the achievability of forecast in view of uncertain assumptions.
Bursa Securities also expressed concerns on uncertainty of the group's ability to compete, increase and sustain revenue growth in the long term in view of the highly competitive industry.
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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