Stone Master to regularise its finances

KUALA LUMPUR: Stone Master Corp Bhd (SMCB) inked a memorandum of understanding (MoU) with Sing Foong Niap Engineering Sdn Bhd (SFNE) to regularise its financial conditions and revive its factory and business operations. The deal is to inject SMCB into building-related materials supply, construction related contracts works and projects where necessary. In an exchange filing, both parties believed that the synergy between them would be commercially beneficial as SFNE undertakes all kinds of construction works. The MoU does not need ant shareholder and/or regulatory approvals. - Agencies