Berlian Laju sets out binding terms for it restructuring
PT Berlian Laju Tanker - an Indonesian chemical tanker operator - on Saturday set out the binding terms of its restructuring that has been ongoing since 2012.
Under the agreement, Berlian will transfer assets into a newly formed entity, with its lenders under a mandated facility agreement, as shareholders. The assets will include 27 vessels out of a total of 39 that make up Berlian's current fleet size.
Berlian will call for a shareholders' meeting to seek approval for its restructuring. Trading in shares of the Singapore-listed stock remains suspended.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Restaurant Brands tops estimates as Burger King overhaul pays off
Yen falls after suspected intervention on Monday, eyes on Fed
US: Wall St opens lower on labour costs data
TikTok shop tops 500,000 US sellers after 2023 e-commerce launch
Parkway Life Reit Q1 DPU up 4% to S$0.0379
Japfa posts US$12.4 million Q1 profit, reversing from year-ago loss of US$43 million