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Scomi to consolidate biz, merge with energy and engineering units

Scomi to consolidate biz, merge with energy and engineering units

KUALA LUMPUR (Aug 21): Loss-making Scomi Group Bhd has put forth a plan to merge its business with two listed subsidiaries — Scomi Energy Services Bhd and Scomi Engineering Bhd — via a share swap deal with free warrants.

"The proposal will strengthen the balance sheet of the group in the midst of a challenging business environment and facilitate its business expansion," the company said in a media statement today.

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