Scomi shares fell as subsidiaries go into judicial management
KUALA LUMPUR: Shares of Scomi Group Bhd fell in early trade Monday after three of its subsidiaries applied for judicial management from the Shah Alam High Court as part of its financial restructuring.
The counter fell 10%, or 0.5 sen to 4.5 sen with thin volume.
The three companies that applied for judicial management are Scomi Engineering Bhd , Scomi Rail Bhd and Scomi Transit Project Brazil (Sao Paulo) Sdn Bhd.
The restructuring is meant to place the company on a strong footing.
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