SINGAPORE (THE BUSINESS TIMES) – Keppel Corporation, which owns a 40 per cent stake in upstream oil and gas company KrisEnergy, on Sunday (Aug 30) said it is prepared to support the final restructuring proposal of the debt-hit firm.
In a bourse filing, Keppel Corp said it has evaluated KrisEnergy’s debt workout plan, which it believes is a “deliverable plan”.
“But for KrisEnergy’s restructuring to be successful, the company would require the support of its stakeholders as the final restructuring proposal is subject to receipt of inter-conditional approvals across stakeholder groups,” said Keppel.
KrisEnergy had earlier warned that it is likely to face liquidation without comprehensive restructuring.
Keppel noted that – based on its f…
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