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History: The Restructure
TH Group Bhd was incorporated on 22 June 1989 in Malaysia as Union Paper Holdings Sdn Bhd, a private limited company. It was subsequently converted into a public limited company on 18 August 1989 and renamed to Union Paper Holdings Berhad. On 4 February 1999, it was further renamed as what it is called TH Group Berhad. The group
was previously involved in the manufacturing and trading of
tissue and paper products. However, it has been making losses
since 1994. In June 1998, the company announced a major restructuring
exercise involving the acquisitions of the entire equity interest
in Tung Hup Enterprises Sdn Bhd, Tracpower Sdn Bhd and Syarikat
Tung Hup Plantations Sdn Bhd, and 25% equity interest in Marceda
Corporation Sdn. Bhd.
At the same time, it also disposed of its paper businesses.
The restructuring exercise was completed on 18 February 1999
which resulted in a change in the Board and Management. On
1 March 1999, the listing of and quotation for the shares
of the company were transferred from the Second Board to the
Main Board of the KLSE (now known as Bursa Malaysia Securities Berhad).
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