KUALA LUMPUR: Minetech Resources Bhd, Malaysia’s largest aggregate mining conglomerate, plans to broaden its horizon into renewable energy (RE) and the oil and gas (O&G) sectors.
In a virtual EGM yesterday, company shareholders approved Minetech’s resolution on a proposed private placement, amendments to its constitution, reduction of share capital to fund the business expansion, as well as diversifications into the new sectors.
“Minetech is expected to raise proceeds amounting to RM85.1mil through the proposed private placement and irredeemable convertible preference shares (ICPS).
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