Singapore has 'good start' in bid to become debt restructuring hub
Indranee Rajah says key to a good restructuring is for the parties and the court "to take a commercial approach to it"
Singapore
SINGAPORE has made "a good start" in its bid to become a debt restructuring hub in the region, with six workout cases filed before its courts after it adopted US Chapter 11-like incentives in local company laws this year, Senior Minister of State for Law and Finance Indranee Rajah said.
Indonesian developer PT Bakrieland Development is set to complete its group restructuring after a plan by its unit, BLD Investments Pte Ltd, was sanctioned by a local judge earlier this month in the first of such cases. Other publicly disclosed filings involved Attilan Group Ltd, TT International Ltd, EMAS Offshore Ltd and Nam Cheong Ltd.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2
Roku’s warning on ad-supported streaming competition clouds upbeat earnings
Stocks to watch: CLI, Great Eastern, MIT, Sheng Siong, iFast, OUE, Far East Orchard
ByteDance prefers TikTok shutdown in US if legal options fail: sources
CapitaLand Investment posts total revenue of S$650 million for Q1
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply