Scomi Group defaults on repayment of RM42m loans


Scomi Group said it was not able to meet its obligation to repay the loans at the repayment deadline due to financial constraints and therefore has defaulted its loan payment.

KUALA LUMPUR: Scomi Group Bhd has defaulted in repaying in full by one bullet repayment of RM21mil each to Tan Sri Wan Azmi Wan Hamzah and Gelombang Global Sdn Bhd (GGSB), respectively.

The Practice Note 17 company said on Tuesday the total amount defaulted was RM42mil together with interest, which was due on Jan 18,2020.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Synthetic products to drive growth for Karex
Strong financial grasp critical for investors
Licence freeze to have impact on Xin Hwa
Gagasan Nadi in RM185mil acquisition
Proton October sales climb 13.6% to 12,799 units
Aneka Jaringan wins RM39mil job
TCS bags RM86mil contract
Ringgit maintains stronger footing at the close
Zetrix platform set to spur MyEG’s earnings
Capacity growth, diversified product mix fuel optimism on OM Holdings

Others Also Read