KUALA LUMPUR: The lengthy process of restructuring financially-distressed Ho Hup Construction Co Bhd is nearly over as the property-cum-construction company prepares to exit PN17 status.
Its executive director, Derek Wong Kit-Leong, said the company “is finally out of the woods” as the creditors and shareholders had approved the proposed restructuring exercise involving a capital reduction, a rights issue of loan stocks with free detachable warrants and a scheme to pay its creditors.
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