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DEBT RESTRUCTURING
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A year of adventure for PIL as it stages a dramatic turnaround in fortunes

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Tay Peck Gek

Tay Peck Gek

Published Tue, Dec 14, 2021 · 09:50 PM

    Singapore

    FOR Pacific International Lines' (PIL) 66-year-old executive chairman Teo Siong Seng, the year 2021 began as a crisis: he had to quickly solicit creditors' support for a scheme of arrangement to save the boxship operator once held closely by his family from sinking under a sea of debt.

    "I think it's a year full of adventures... Nobody knew what's going to happen when we started the year," said Teo, who is better known as SS Teo.

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