In the past year, the global corporate default rate reached its highest level since the 2008 financial crisis, and continues to climb. In response, both Singapore and the European Union are exploring new approaches to debt restructuring inspired by Chapter 11 of the United States Bankruptcy Code, which has successfully revived corporations like Chrysler and…
KUALA LUMPUR: UMW Oil and Gas Corp Bhd (UMW-OG) is determined to return to the black and is currently restructuring its debts, said president Rohaizad Darus. He said the demerger exercise between UMW-OG and UMW Holdings Bhd, which was approved by shareholders recently, provided support to the company and for a more structured debt restructuring…
Cathay Pacific Airways confirmed on Monday morning it will shed almost 600 staff from its head office, in the biggest round of job cuts by Hong Kongs flagship carrier in 20 years. The airline said most of its restructuring will be finished by 2017, citing changing customer habits and a challenging business environment as causes.…
KOLKATA: RP Sanjiv Goenka Group on Thursday announced the restructuring of its flagship company CESC Ltd by splitting it into four companies. Group chairman Sanjiv Goenka said power utility CESC is being split into four companies by way of ‘mirror image’ demerger for value unlocking and focused management on each of the verticals. Elaborating further,…
KOLKATA: RP Sanjiv Goenka Group on Thursday announced the restructuring of its flagship company CESC Ltd by splitting it into four companies. Group chairman Sanjiv Goenka said power utility CESC is being split into four companies by way of ‘mirror image’ demerger for value unlocking and focused management on each of the verticals. Elaborating further,…
SINGAPORE Singapore Airlines (SIA) announced a major business transformation plan on Friday (May 19), entailing a review of all its business divisions and processes, after reporting an unexpected fourth-quarter net loss of S$138 million. This was the companys first loss in five years. The flag carrier said it will be taking bold radical measures, with…
General Motors has announced key restructuring actions for its international business to increase overall financial health. The move comes as GM is looking to focus capital and resources on opportunities expected to yield higher returns, according to a press release from the automaker. As the industry continues to change, we are transforming our business, establishing…
Power utility CESC Ltd, a flagship company of RP-Sanjiv Goenka Group, on Thursday announced a business restructuring scheme based on demerger of certain existing businesses. “This (the restructuring scheme) will lead to four entities focusing on generation, distribution, organised retail and other ventures,” Group Chairman Sanjiv Goenka said. All four entities will be listed with…
BEIJING – While the Chinese economy returned to a stabilizing trend in April after a stronger-than-expected first quarter, the traction behind its firm steps is somehow different from what it used to be. Though the official April economic indicators were basically flat or even softened slightly from the March level, strides are being made on…
Moneycontrol News Shares of CESC slipped 15 percent on Thursday on the back of announcement of restructuring plan. The company has announced restructuring scheme which includes amalgamation of CESC Infra, Spencer’s Retail & Music World Retail with the company. The company is going to list Haldia Energy, RP-SG Retail and RP-SG Business Process Services on the…