Hoe Leong unveils debt restructuring plan
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Singapore
HEAVY equipment maker Hoe Leong Corporation has unveiled more details on its plans to restructure some S$77 million in debts owed to creditors.
The mainboard-listed group said in a bourse filing on Thursday it has proposed a scheme of arrangement to certain bank creditors and its controlling shareholder, Hoe Leong Co. Hoe Leong owes about S$63 million to the banks, which were not named, and S$14 million to Hoe Leong Co.
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