TRI likely to proceed with debt revamp without new investors, BUSINESS TIMES

Business Times (Malaysia)

11-06-2001

TECHNOLOGY Resources Industries (TRI) Bhd looks set to proceed with its
billion-ringgit debt restructuring without bringing in new big investors
for now.
Inviting new parties to subscribe for shares in the company would
effectively force the exit, at a very cheap price, of major existing shareholders
of TRI.
Scuttling the debt restructuring is also not an option as it would
result in creditors gaining control of TRI, the owner of Celcom (M) Sdn
Bhd.
Industry sources said this is something t