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(From Business Times (Malaysia))
PERNAS International Holdings Bhd can reduce its debt to RM1.1 billion from RM2.4 billion by the end of the year as a result of business improvement, stronger cash flow and asset disposals, says group chief executive officer Mohd Redza Shah Abdul Wahid.
Of its RM2.4 billion debt, RM550 million has already been restructured, he said. Another RM500 million is booked to its subsidiary, Tradewinds (M) Bhd, which he said is well capable of servicing the loan.
"After taking out Tradewinds (debt), the group's debt will be RM1.3 billion. We hope to bring that down by another RM200 million by the year-end, so that would be …