Ley Choon wins contract, updates debt revamp

Singapore

ALONG with its announcement of a new contract win by a subsidiary on Tuesday, construction firm Ley Choon Group gave an update on what it is doing to pare its debt.

Ley Choon and its lenders have on June 8 agreed on and signed a term sheet setting out the key terms of the restructuring of the group's debt obligations. This will subsequently be encapsulated in a debt restructuring agreement within 90 days.

Asked for more details, the group said it is unable to elaborate, until the terms are finalised. The firm began its debt restructuring exercise in mid-2015. As pa…