Swee Hong granted moratorium of 6 months
CONSTRUCTION company Swee Hong said on Thursday that the company's application to the High Court to seek a moratorium was granted on Wednesday.
For a period of six months, no resolution can be passed for the winding up of the company and no proceedings can be commenced or continued against it, among other prohibitions.
Swee Hong will also have to provide its latest available audited financial statements, its latest available management accounts, forecasts of profitability, a liquidation analysis, updates on negotiations with potential investors or rescue financiers, and an updated valuation on the key assets to creditors upon request within six weeks.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Marina Bay Sands Q1 profit surges 51.5% to US$597 million on tourism boom
US: Wall St opens higher as some chip stocks bounce back after selloff
Blackstone reports 1% rise in Q1 earnings
India’s Infosys misses fourth-quarter revenue estimates
UBS shuts some China private funds, will lay off staff: sources
China’s top lenders face 1.6 trillion yuan loss-absorbing capital shortfall by 2025, Fitch estimates