Corporate digest

Hiap Seng Engineering

MAINBOARD-listed Hiap Seng Engineering, which has been under judicial management since late last year, could get a cash injection of S$16 million from investors led by an associate of mainboard-listed logistics player Vibrant Group.

The deal with the investors is dependent on unsecured creditors approving a debt-for-equity swop in a scheme of arrangement, according to the non-binding term sheet disclosed by the judicial managers in a bourse filing on Thursday (Dec 9).