Will revamp bear fruit for SunMoon?

SUNMOON Food Company's latest debt restructuring has finally removed the proverbial sword of Damocles hanging over its head and given it a fresh impetus for growth.

Those familiar with its corporate history will remember SunMoon as the doomed FHTK Holdings, or Fook Huat Tong Kee, a major fruit distributor and investor in China. It listed on Singapore Exchange's mainboard in 1997 to great excitement, boasting sales the year before of $225 million and pre-tax profits of $10.7 million.

That same excitement saw the stock hitting a high of 88 cents in the course of its trading, against its initial public offering price of 60 cents.