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Thursday, March 27, 2014

PDZ may consider a fundraising exercise (CIMB)

Tan Sri Robert Tan Hua Choon, a major shareholder of PDZ Holdings, may consider a fundraising exercise to help finance the acquisition of oil and gas (O&G) assets, sources said. The fundraising exercise may include a private placement, rights with warrants issuance or convertible bonds, they said. Tan owns 19.13% of PDZ and has been a shareholder of the shipping firm since November 2000. He plans to venture into the O&G sector to diversify earnings and boost profitability. PDZ currently operates six vessels in Malaysia, Singapore, Brunei and Myanmar. (BT)

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