source: StarBiz, 02 April 2011 - Risen Jayaseelan

PETALING JAYA: Johor Corp (JCorp) has appointed a new investment committee made up of five members of its board and headed by its chairman, Johor Mentri Besar Datuk Abdul Ghani Othman, banking sources said.

“The idea is for this investment committee to take an independent look at a possible restructuring of the group,” one banker said.

She added that the investment committee “will study the situation closely and present its independent findings to the board of JCorp, who will then make the final decisions of any proposed restructuring”.

Another party familiar with the situation said the move was aimed at having a strategy that was “focused on the best interest of JCorp”, considering the vastness of the group and the many management teams within it.

Recently, JCorp has been in the news as the Malay Chamber of Commerce has said it was offering to buy JCorp's stake in Kulim (M) Bhd