Nam Cheong Limited (SG:1MZ) has released an update.
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Nam Cheong Limited has effectively implemented a new restructuring scheme to manage significant debt maturities after a series of negotiations and approvals that began in April 2020. The process involved discussions with principal lenders, an in-principle agreement, and assistance from the Corporate Debt Restructuring Committee of Malaysia. This strategic move aims to extend loan maturities and reorganize the company’s financial obligations to stabilize its operations.
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