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Nam Cheong controlling shareholder to take up RM50m of rights shares

Proceeds from tycoon Tiong Su Kouk will fund option for noteholders to cash out their debt after severe haircut

Singapore

THE controlling shareholder of Nam Cheong has pledged to subscribe in full his share of a proposed rights issue that will cost him some RM50 million (S$15.9 million).

The irrevocable undertaking from Malaysian tycoon Tiong Su Kouk, who owns about 46 per cent of Nam Cheong

sentifi.com

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