Nam Cheong hit with writ of summons from AmBank
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Singapore
NAM Cheong Ltd said in a Singapore Exchange (SGX) filing on Thursday that the company and its wholly-owned subsidiary, Nam Cheong Dockyard Sdn Bhd, had on Wednesday received a writ of summons and statement of claim dated Aug 7 filed by AmBank in the High Court of Malaysia in Kuala Lumpur.
This comes as the group is in the midst of restructuring discussions with its principal lenders - which includes AmBank - to address significant debt maturities and other obligations owed to financial lenders and trade creditors.
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