Scomi Group Bhd is extending the timeframe to submit its application to issue up to 554.41 million renounceable rights shares.
The company said on March 4 the extension to submit the application to the Securities Commission was due to the uncertain market sentiment, both globally and domestically.
Scomi said the deferment would give time for the board to relook at the corporate exercise when market sentiment has improved.
The plan involved issuing the rights shares on a one-for-two basis of 10 sen each at an issue price of 30 sen per rights shares.
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