Oceanus calls for EGM to approve debt restructuring plan

Singapore

ABALONE company Oceanus Group on Thursday put out its plan to restructure more than S$80 million in debt owed to key creditors, and will seek approval from its shareholders at an extraordinary general meeting (EGM) for this proposal.

The key creditors are BW Investment, Ocean Wonder International and Ocean King Group. The company also owes money to current and former directors who have yet to be paid director fees.