What to watch: Raymond: Focus on corporate revamp

The board of Raymond on Thursday approved a composite scheme of arrangement involving Raymond Apparel Ltd (RAL) and Scissors Engineering Products Ltd (SEPL). The scheme envisages the amalgamation of RAL and SEPL with Raymond Ltd; demerger of the lifestyle business undertaking of Raymond Ltd into a new company on a going concern basis; and cancellation and reduction of existing share capital of Raymond. Shareholders will closely monitor further development.