Halcyon Agri to cut US$10m in operating, capital expenditure amid pandemic

Singapore

HALCYON Agri Corporation is looking to lop US$10 million off its operating and capital expenditure this year to soften the economic impact of the Covid-19 pandemic, the mainboard-listed rubber supplier said in a business update on Monday.

The group is also managing its treasury operations to maintain sufficient liquidity headroom across all operating entities. This includes raising committed long-term green financing for its Corrie MacColl plantations, reconfirming existing revolving trade facilities and enhancing credit by "developing a digital borrowing base utilising a smart rubber contract", Halcyon Agri said.