Ley Choon wins contract, updates debt revamp
Unit secures S$35.3m contract from PUB; group is in the midst of divesting non-core assets as part of debt-restructuring exercise
Singapore
ALONG with its announcement of a new contract win by a subsidiary on Tuesday, construction firm Ley Choon Group gave an update on what it is doing to pare its debt.
Ley Choon and its lenders have on June 8 agreed on and signed a term sheet setting out the key terms of the restructuring of the group's debt obligations. This will subsequently be encapsulated in a debt restructuring agreement within 90 days.
Asked for more details, the group said it is unable to elaborate, until the terms are finalised. The firm began its debt restructuring exercise in mid-2015. As pa…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Hilton lifts 2024 profit forecast on international travel demand
Asia stocks rise on Wednesday amid Wall Street rally; STI up 0.6%
Orsted says Taiwan wind project to power TSMC on track for 2025 finish
China knockoff raid jolts a global throng of fake-fashion influencers
Tesla profits tumble but shares rise on new vehicle plan
Brokers’ take: CGS International upgrades Nanofilm to ‘hold’ despite lower target price