Chronology of the Perwaja collapse.

* APRIL 22, 1982 Perwaja Terengganu Sdn Bhd started with a paid-up capital of RM250 million.

Construction of the plant started six months later. * 1986 Perwaja Terengganu plunged into the red with an accumulated loss of RM131 million by the end of 1986 due to management problems and the appreciation of the Japanese yen. * FEBRUARY, 1987 A new management team headed by (Tan Sri) Datuk Eric Chia was appointed to bring Perwaja back to profitability.

He was UMW group chief executive then. * MAY 17, 1988 The Government received more than 10 proposals to turn the RM1.2 billion Perwaja steel plant into a profitable venture. * MARCH 2, 1989 Tan Sri Zainal Abidin …