KUALA LUMPUR, Oct 12 — Marine & General Bhd (M&G) has received shareholders’ approval pertaining to its 70 per cent-owned subsidiary, Jasa Merin (Malaysia) Sdn Bhd’s (JMM) debt restructuring and completed the requisite debt restructuring processes. Through the restructuring, JMM’s...
KUALA LUMPUR, Oct 12 — Marine & General Bhd has received shareholders’ approval pertaining to its 70 per cent-owned subsidiary, Jasa Merin Sdn Bhd’s debt restructuring and completed the requisite debt restructuring processes.
“The restructuring, although undertaken before the recent decline in demand, should nevertheless enable JMM to be better positioned in the upstream marine logistics segment and improve its underlying viability going forward,” M&G said in a filing with Bursa Malaysia today.Annual General Meeting today, where all six ordinary resolutions presented for consideration were approved by shareholders.
“On an annualised basis, the revenue recorded for the financial year ended 2020 was a 22 per cent increase over the previous period, mainly driven by higher charter activities at the upstream division.”
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