April 25, 2013 1:49 AM
THE financial struggles of Poh Lian Construction have caused such harm to parent company United Fiber System (UFS) that there are doubts the firm can carry on as a going concern.
UNITED Fiber System gave notice yesterday that it has recorded pre-tax losses for the three most recently completed consecutive financial years while its market capitalisation as at Feb 29 was some $210.6 million.
ON the face of it, investors appear happy with United Fiber System's latest attempt at reviving its fortunes - since the loss-making company announced it is the subject of a reverse takeover by Indonesian coal mining company Golden Energy Mines...
BELEAGUERED United Fiber System (Unifiber) has received a seeming lifeline in the form of Indonesian businessman Oei Pheng Lian, who will take up a controlling stake in the loss-making company and extend it a US$35 million loan.
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