Azmi & Associates recently assisted Boustead Heavy Industries Corporation Berhad (“BHIC“), a defense contractor listed on Bursa Malaysia Securities Berhad, in a proposed debt settlement valued at approximately RM417 million, which received approval from BHIC’s shareholders during the extraordinary general meeting held on December 29, 2023.
The debt settlement aims to address BHIC’s financial obligations to several financiers, including Affin Bank Berhad, MBSB Bank Berhad, AmBank Islamic Berhad, and BHIC’s holding company, Boustead Holdings Berhad. The settlement encompasses the issuance of conventional and Islamic preference shares.
Azmi & Associates is firmly committed to ensuring the seamless and successful completion of this proposed debt settlement process.
Link to the report: https://www.freemalaysiatoday.com/category/highlight/2023/12/29/bhic-shareholders-approve-rm417mil-debt-settlement-proposal/
