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Rajandram defends debt restructuring exercise by Renong (339).
CORPORATE Debt Restructuring Committee chairman Datuk C. Rajandram yesterday defended a plan to restructure Renong Bhd's debt and urged critics to come forward.
Rajandram was asked if he believed Renong's plan to restructure its debts by June was favourable.
"Why should it not be favourable? That's a question I want to ask.
"What is wrong? The creditors are getting paid off, so also minorities are being taken care," he said in Kuala Lumpur yesterday.
Last month, Renong and the CDRC proposed an RM8.41 billion bond issue to repay debts of Renong and its associate United Engineers (Malaysia) Bhd.
The bonds would be issued by UEM's …
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Magazine article from: Business Times (Malaysia)
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700+ words
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News wire article from: BERNAMA The Malaysian National News Agency
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Newspaper article from: New Straits Times
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- RENONG-UEM DEBT RESTRUCTURING TO BE COMPLETED BY AUGUST: UEM MD (422).
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News wire article from: BERNAMA The Malaysian National News Agency
June 16, 1999
700+ words
