Libra Group seeks to extend moratoria

Kelly Ng

Published Mon, Apr 19, 2021 · 11:05 PM

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.