KUALA LUMPUR: China government-linked company Supreme Global Group Ltd is on track to assume Key West Global Telecommunications Bhd's listing status on the ACE market in a reverse take-over.
In its filing to the stock exchange today, Key West said Bursa Malaysia Securities had approved of its regularisation plans.
It involved Supreme Global injecting the assets and operations of its edible oils unit Henan Xinghe Oil and Fat Co Ltd into Key West via a share swap.
Henan Xinghe is ranked among the top six edible oils companies in China.
Once the reverse takeover is completed, Key West will repay its shareholders and assume the necessary name change to reflect its new business.
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