Chaswood Resources to serve scheme for new proposed debt restructuring

CATALIST-LISTED Chaswood Resources Holdings is to serve the scheme for the new proposed debt restructuring on the scheme lenders, the firm said in an update on its restructuring proceedings that have commenced in Malaysia.

On Wednesday, the firm said that the High Court of Malaysia has directed it to provide further details with regard to the proposed sale of the assets or businesses of its subsidiaries which form part of the scheme for the new proposed debt restructuring.

In addition, Chaswood is to file a supplementary affidavit, if any, before June 28, which is the next hearing date.

In April, the company was granted an extension from the Accounting and Corporate Regulatory Authority to hold its annual general meeting for FY2017 by June 30 and present its financial statements for the said period by June 29.

Trading of the company's shares has been suspended since June 18.