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CATALIST-LISTED M Development intends to go private by means of a members’ voluntary liquidation, it said in a Singapore Exchange (SGX) filing on Thursday evening.
This follows the Oct 16 notification of delisting which M Development received from SGX. In compliance with Listing Rule 1309, the company must provide a fair and reasonable exit offer to shareholders, with the proposal within a month of such notification.
In its Thursday announcement, M Development said that it had written to the SGX on Wednesday, stating its intention to make the exit offer by way of a members’ voluntary liquidation.
The company has been a cash company since Sept 8, 2017. It is in a net cash position, and has “no other feasible exit strategy immediately a…
Inside NZ’s biggest retail store: Ikea rival Nido set to open second level of 27,000 sqm site. Video / Nido
The founder and developer of New Zealand’s biggest furniture store has told suppliers that his building company cannot pay them, is seeking to refinance and begging them not to sue.
Vinod Kumar, a director of Vijay Holdings which built the new Nido store in Henderson, sent a letter to creditors saying he had financial issues and “we won’t be able to pay the balance promptly but over time that is certainly the intention”.
Daran Nair and Heiko Draht of Greenlane Chartered Accountants were appointed liquidators …
Inside NZ’s biggest retail store: Ikea rival Nido set to open second level of 27,000 sqm site. Video / Nido
The founder and developer of New Zealand’s biggest furniture store has told suppliers that his building company cannot pay them, is seeking to refinance and begging them not to sue.
Vinod Kumar, a director of Vijay Holdings which built the new Nido store in Henderson, sent a letter to creditors saying he had financial issues and “we won’t be able to pay the balance promptly but over time that is certainly the intention”.
Daran Nair and Heiko Draht of Greenlane Chartered Accountants were appointed liquidators …
Thousands of businesses still struggling to stay alive should consider closing, with a leading insolvency firm declaring now is “crunch time” for them to survive or die.
Thursday marks 50 days before key government stimulus measures, thought to be supporting thousands of businesses, come to an end.
December 31 will mark the end of the insolvent trading moratorium, the first tranche of JobKeeper 2.0 and the commercial eviction moratorium.
Insolvency firm Jirsch Sutherland said now was the time for directors to see the writing on the wall and warned them they could be liable for damages if they continue to trade while insolvent.
“It’s vital that businesses don’t ignore the warning signs of insolvency – otherwise they could miss the wind…
President-elect Joe Biden will be inheriting a struggling economy when he takes office in January. Coronavirus infections are reaching new highs with the pandemic showing no signs of abating anytime soon.
Meanwhile, millions of people remain unemployed and permanent layoffs are rising. Small businesses are still shuttering as the recovery shows signs of weakening without additional stimulus.
A pair of Senate runoff races in Georgia will decide which party controls the Senate and the balance of power in Washington. If Republicans keep the chamber, it may be difficult for Biden to achieve many elements of his platform such as tax increases for wealthy individuals and corporations.
But here are four steps Biden could take on his own wi…
Southport District Court in Queensland, Australia sentenced Zhen Jie Zhang, 55, to seven years in prison Tuesday for kidnapping a Gold Coast child to recover a AU$5.5m (US$4m) gambling debt from the boys father.
no other option but to kidnap the 12-year-old son of a gambling associate
Zhang, from Sydney, said he had no other option but to kidnap the 12-year-old son of a gambling associate in 2018, as he attempted to recoup money owed to him. Zhang told Southport District Court on November 10 through an interpreter that he had acted irrationally and said he wanted to formally apologize.
If you feel afraid please forgive me for that; your father was acting terribly [and] owed me a substantial amount of…
Today at our annual Investor Day we announced an important milestone in our T22 journey an important moment in Telstras long history a proposed restructure of our business. I wanted to take a moment to explain whats driving the changes and what happens next.
First let me outline todays announcement.
We have announced the proposed restructuring of Telstra into three separate legal entities, under a parent company to be called Telstra Group. The three entities will be InfraCo Fixed, InfraCo Towers and a third entity ServeCo. ServeCo is not a new brand name, we are just using it for the purpose of differentiating it from our infrastructure business because it is focussed on our products and services and customer support.
But in the process of her six-figure debt payoff journey, Khalfani-Cox gained more than just financial freedom. She also adopted some new money habits to maintain what she calls a “Zero Debt mindset.”
Before she buys stuff or makes any new purchases, these are the two questions she asks herself to be a more disciplined spender and avoid debt. “Just asking myself these kinds of questions helps me to make better financial choices,” Khalfani-Cox tells CNBC Select.
Should I put this on a card or should I just use cash to buy it?
Debts are a fact of life. Many people, from multimillionaires to corporate employees, have it. Financially healthy people even have debts, especially if theyve bought big-ticket purchases, such as a real estate property or a car.
As a financially responsible individual, you know too well that handling your debts properly will reward you with a good credit score. However, some people find it hard to cope with debts mainly because their salary and repaying power are not proportional to the credit that they have borrowed and used. Some may be attending to other important financial obligations.
Nevertheless, there is one possible solution that may make repayments much easier and more efficient. Enter debt consolidation.
Lenders to Lavasa Corporation are making a last-ditch effort to attract bidders for the eponymous hill city near Pune, seeking final bids before November 20. If the project fails to attract any bidders, then lenders will to send the company to liquidation. Several bidders, who had earlier shown interest, are now backing out.
With a slowdown gripping the real estate industry, the bidders want to take less risk in the project, said a banker close the development. Th…
Kesoram Industries Ltd is focusing on a sustainable turnaround and expecting to conclude its second phase of restructuring process by inducting a strategic investor into it
Industries Ltd is focusing on a sustainable turnaround and expecting to conclude its second phase of restructuring process by inducting a strategic investor into it and finalising a debt resolution plan with bankers by the next month, a company official said on Wednesday.
The first phase of restructuring was the demerger of its tyre business from the company and taking it into a new entity, Birla Tyres Ltd, he said.
“We hope to conclude the ongoing restructuring by December. This in…
