Singapore

KS Energy on Friday announced an internal reorganisation, along with a proposed bond purchase and bond issuance, with the completion of all three moves being conditional upon each other.

KS Energy's 55.35 per cent stake in KS Distribution will be transferred to subsidiary KS Resources (KSR) for a consideration of about S$37.9 million, to be settled using the proceeds from KSR's proposed new issue of debt securities.