SINGAPORE – Catalist-listed Chaswood Resources Holdings said on Monday (Nov 20) its wholly-owned Malaysian subsidiary has started restructuring proceedings on RM22 million (S$7.18 million) of credit facilities.
Under the proposed debt restructuring, the unit, Chaswood Resources Sdn Bhd (CSRB), is holding discussions with its principal lenders – CIMB Bank Berhad, Malayan Banking Berhad and AmBank (M) Berhad – on the restructuring and rescheduling of loan repayments.
While the talks are ongoing, restaurant operator CRSB will temporarily cease repayment on all of its borrowings with the lenders.
It has also obtained a 90-day moratorium order from the High Court of Malaysia on Nov 17, 2017, against the enforcement of winding up p…
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