I'm in the process of re-restoring an LI 125 that's been the subject of a "budget" restoration here in Malaysia. The legshields have a couple of issues. The floor panel areas have rusted through in the past and been poorly repaired ( looks great from the top though

) but I don't think it will be an issue to cut these areas out and have new steel welded in. More of a concern is that the "lip" around the outside of the legshield that the rubber beading fits onto is completely missing , I assume it was either damaged or rusted and the budget solution was to simply cut if off.
Does anyone have any advice as to whether its feasible to repair this and if so how? I would really like to restore to look original complete with legshield beading, but if that's not possible I guess I'll have to make the lack of beading a feature!
Thanks in advance.
Tippo