Premier Nalfin to submit revised restructuring plan by June

KUALA LUMPUR: Premier Nalfin Bhd, a Practice Note 16 (PN16) company, will submit a revised revamp plan to the Securities Commission by the end of June in relation to a reverse take over exercise by Emrail Sdn Bhd.
Speaking to reporters after the company's AGM here today, chairman Tan Sri K.R. Somasundram said he is optimistic that the business plan will obtain the green light from the regulator.
Last week, Premier Nalfin withdrew its proposed restructuring scheme which was submitted on January 15 due to a potential emergence of a new substantial shareholder in Emrail.
This will result in material changes to the existing structure of the restructuring scheme.
Emrail is involved in railway engineering, systems and signalling for railways, civil works related to railways and maintenance and engineering works.