Hatten Land subsidiaries plan debt restructuring

MDSA Resources, MDSA Ventures seek court leave to call for creditors' meet

Vivienne Tay

Published Thu, Jul 2, 2020 · 09:50 PM

Singapore

TWO subsidiaries of Catalist-listed Hatten Land are looking to undergo debt restructuring, on top of the group's other initiatives to make its property development business more resilient in light of ongoing pressures from the Covid-19 pandemic.

The subsidiaries, MDSA Resources and MDSA Ventures, are the developers for the group's integrated mixed-use projects Hatten City Phase 1 and 2 in Malacca, Malaysia.

MDSA Resources and MDSA Ventures have applied to the High Court of Malaya for the court's leave to call for creditors' meetings under Section 366(1) of the Malaysian Companies Act, to consider and approve a proposed scheme of arrangement and compromise between each…