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Cheng: Lion Group's revamp for steel ops still on

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Cheng: Lion Group's revamp for steel ops still on Empty Cheng: Lion Group's revamp for steel ops still on

Post by hlk Tue 17 Jul 2012, 00:03

KUALA LUMPUR: The restructuring plan for Lion Group's steel operations is still on with a merchant banker appointed to look into the matter, said its chairman and chief executive officer Tan Sri William Cheng.
He said on Monday that several foreign parties from China and South
Korea have indicated interest to take up some stake in Lion steel
subsidiaries but "they want to see a clearer iron and steel policy
being put in place by the Malaysian Government before investing".
In
another development, Lion Group is also seeking to secure iron ore
concessions from the mineral rich states like Trengganu, Pahang and
Johor.
"This will be for the supply to our current blast furnace
plant in Banting (Selangor) which is under construction," Cheng
explained.
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