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KUALA LUMPUR, May 17 — Yong Tai Bhd (YTB) is undertaking multiple corporate exercises consisting of shares consolidation, bonus issue of warrants and debt settlement. In a filing with Bursa Malaysia today, the company said it proposed a share consolidation of every five shares in YTB into one YTB...
LIKE many companies, Yong Tai Bhd has not been spared from the adverse impact of the Covid-19 pandemic, due to its presence in the tourism and property sectors. With no silver lining in sight for the next two years, the company has had no choice but to invest in new business opportunities. It hopes that its plan to distribute a Covid-19 vaccine announced earlier this month will be its turning point. “Today, we cannot keep pumping money into the property sector. Good money should not be put into a risky business or bad industry anymore. Proceeds from the fundraising should be used in the rig...