Apr 6, 2010

RAMUNIA CLASSIFIED AS PN17

Ramunia Holdings announced that it had been classified as a PN17 company. This is surprising given the company is in the midst of disposing its fabrication yard to Sime Darby for RM530m cash. Sime still hopes to complete the deal in April
which will see them emerge as Malaysia’s top fabricator with a combined yard space of 284 acres. Also, Ramunia and its 51%-owned subsidiary, MS Herkules Sdn Bhd, have been served with an injunction by the Kuala Lumpur High Court to stop them from disposing of, or assigning assets owned by MS Herkules to either Ramunia or other parties.