SC Yes to revamp plans

MALAYSIAN Resources Corp Bhd and Sistem Televisyen Malaysia Bhd said the Securities Commission (SC) has approved their corporate restructuring proposals. The SC also approved the application for exemption from the obligation to undertake a mandatory offer on the remaining voting shares in The New Straits Times Press (M) Bhd by Media Prima Bhd (formerly known as Profitune Bhd). This approval is subject to the companies' compliance with all relevant requirements under the SC's Policies and Guidelines on Issue/Offer of Securities and compliance with conditions imposed by other relevant authorities, if any.