Tuesday 03 January 2017 Islamic mortgage provider Amlak Finance has announced the renegotiation of a restructuring deal with its financiers. The firm said it approached financiers in September to wave a number of restrictive covenants in its original restructuring terms from 2014. These included adjustments restrictions to allow for the companys mortgage book to be…
Chinese Internet company Tencent announced business restructuring and personnel changes for its QQ music business line. The company revealed that they will establish a QQ music business line, which will be responsible for the development and operation of music products, including QQ Music and Kg.qq.com, an online karaoke platform. This new QQ music business…
BANNOCKBURN, Ill.–(BUSINESS WIRE)–Today, UCI International, LLC (UCI or the Company) announced it has completed its financial restructuring and has officially completed its Chapter 11 reorganization. The Company is now owned by its former creditors led by funds and accounts under the management of Blackrock Financial Management, Inc., Credit Suisse Asset Management, LLC, and J.P. Morgan…
SET-listed Srisawad Power 1979 (SAWAD), a leading retail lender, will spend up to 2.01 billion baht to acquire those shares of Bangkok First Investment and Trust (BFIT) which it does not already own. The company will enter into an agreement with Narissara Kitpipit to acquire 53 million shares or a 26.5% stake in BFIT at…
Vehicle distribution giant Inchcape is restructuring its Singapore operations, a move that will result in one of the biggest downsizing exercises the local motor industry has ever witnessed. The Straits Times understands that some 120 employees across Toyota agent Borneo Motors and Suzuki agent Champion Motors will be retrenched within the next several weeks. The…
Cooperatives and Small and Medium Enterprises Ministry said on Thursday that it would strengthen collaboration with the State-owned Enterprises (SOEs) Ministry to help small and medium enterprises expand. The two ministries plan to integrate business service centers and SOE Creative Houses across the country since the institutions shared the aim of providing solutions for SMEs in regard…
SET-listed Srisawad Power 1979 (SAWAD), a leading retail lender, will spend up to 2.01 billion baht to acquire those shares of Bangkok First Investment and Trust (BFIT) which it does not already own. The company will enter into an agreement with Narissara Kitpipit to acquire 53 million shares or a 26.5% stake in BFIT at…
The Union finance ministry is considering a proposal to restructure sugar mills debt, which is under severe stress due to lack of capacity utilisation. While sugar crushing begun two months ago, some mills in Maharashtra and Karnataka dont have enough sugarcane to crush and are said to be closing operations. The sugar sectors total…
CHENNAI: Mahindra & Mahindra Ltd (M&M Ltd.), India’s leading SUV manufacturer, on Wednesday announced restructuring of its businesses under Dr Pawan Goenka, managing director, M&M Ltd. The company formed a new sector — the agriculture sector. This is in addition to its two existing automotive and farm equipment sectors. The company has also announced the…
December 28, 2016 Muscat: Globally, downward cycles in economies like the current one in the region caused by low oil prices, have led to an increase in merger and acquisition activity. Given the fact that there will be fixed operating costs that cannot be reduced or controlled beyond certain level, loss in revenue would lead…