Koon Holdings ends joint venture with Penta-Ocean amid debt restructuring
Add BT as a preferred source
Vivienne Tay
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
KOON Holdings on Monday said the joint venture (JV) between its unit Koon Construction & Transport (KCT) and Japanese firm Penta-Ocean Construction has been terminated.
The group said the move is in view of the group's ongoing restructuring exercise. Following the termination, Koon Holdings and KCT will no longer need to provide corporate guarantees in respect of the JV - significantly reducing their contingent liabilities and obligations.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
