Hiap Seng Engineering is set to receive $16 million from an investor group led by integrated logistics solutions provider, Vibrant.

The move follows a non-binding term sheet that was signed by the company’s judicial managers and the investors on Dec 9.

The cash – which will be injected over two tranches – will form part of a restructuring exercise. The bailout, which can take place till Jul 31 2022, is subject to the approval of shareholders and regulators. 

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook