Libra Group seeks to extend moratoria
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
CATALIST-LISTED Libra Group and its sole operating subsidiary Kin Xin Engineering have applied to the High Court for an extension of the existing moratoria which are due to expire on April 30, as the company intends to further discussions with a potential investor and its creditors.
The application was made on April 16 and will be heard before the court on April 26, building solutions-provider Libra said in a Monday night bourse filing.
Libra also announced that it has received a term sheet from a new investor that wishes to invest into the company, and will also seek to engage this new investor during the moratoria, if extended.
Trading in Libra's shares has been suspended as the company has been deemed unable to continue as a going concern. The share price last closed on Aug 22, 2020, at 3.5 Singapore cents.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
