Revision of the Group’s Business Plan — TODAY pic SINGAPORE, Nov 2 — Small- and medium-sized enterprises (SMEs) facing cashflow challenges due to Covid-19 will be able to restructure their debts with the Association of Banks in Singapore rolling out two new schemes yesterday. The Edge Communications Sdn. Records broken as realme Malaysia scores second highest in region, ISKL Shortlisted for Two International School Awards, SIRIM QAS’ standards in certification and conformity assessments promote the highest quality, Budget 2021: Stand United We Shall Prevail, Malaysia to Go 5G • Go Cloud • Go AI - Grow with intelligence, EVENING 5: MyEG gets three-year extension, EVENING 5: Supermax in, KLCC out of FBM KLCI, EVENING 5: Nitrile latex tipped for record high, NEWS: Bioalpha banks on the longevity biz, EVENING 5: Investigation papers opened against Top Glove, Decision on CMCO extension to be announced tomorrow, Tropicana’s purchase of Top Glove shares raises eyebrows, EPF members with less than RM100,000 in Account 1 can withdraw up to RM10,000 under expanded i-Sinar facility, Covid-19: Malaysia logs 1,141 new cases, half from Klang Valley; total now exceeds 70,000, Yong Tai gains as much as 32% following ICPS conversion announcement. KUALA LUMPUR (Oct 6): AirAsia X Bhd (AAX) has unveiled a massive debt restructuring proposal in which the airline will reconstitute RM63.5 billion worth of debts, including future lease rentals, aircraft purchase commitments and advanced ticket sales, into a principal amount of up to RM200 million. Under the debt restructuring scheme, the airline has proposed that the RM63.5 billion it owes scheme creditors be restructured and reconstituted into an acknowledgement of indebtedness by AAX for a principal amount of up to RM200 million, payable annually over a period of up to five years, via three equal payments from the 3rd to the 5th year of the scheme's implementation, it said. Businesses are defined as insolvent when they are overwhelmed by debts and can no longer make repayments on time. KUALA LUMPUR (Dec 2): AirAsia X Bhd expects the outcome of its ongoing scheme of arrangement under its debt restructuring exercise to inject fresh equity will only be known by the end of June next year. KUALA LUMPUR (Nov 4): AirAsia X Bhd (AAX), the low-cost long-haul affiliate of AirAsia Group Bhd, has revised its proposed debt restructuring scheme and re-categorised its 1,200 unsecured creditors into two separate classes. The long-haul budget airline said this when announcing to Bursa Malaysia today that it was changing its financial year-end to June 30, 2021, from Dec 31, 2020. Steep haircut for creditors to rescue AirAsia X. For the nine months ended Sept 30, 2020 (9MFY20), AAX's net loss widened to RM1.16 billion, about three times the RM393.67 million it recorded in the corresponding nine months last year as revenue sank 66% to RM1.08 billion from RM3.2 billion. Bhd. Outcome of AirAsia X's debt restructuring exercise likely to be known by June 30, 2021 ... AirAsia X Bhd expects the outcome of its ongoing scheme of arrangement under its debt restructuring exercise to inject fresh equity will only be known by the end of June next year. The airport operator noted that AirAsia X has filed an application for a proposed debt restructuring scheme with its unsecured creditors pursuant to section 366 of the Companies Act 2016. KUALA LUMPUR, Oct 23 — Malaysia Airports Holdings Bhd (MAHB) said its wholly-owned subsidiary, Malaysia Airports (Sepang) Sdn Bhd (MASSB), has filed an application to intervene and be excluded from AirAsia X Bhd’s (AAX) proposed debt restructuring scheme. Malaysia's AirAsia X Bhd on Wednesday said it has revised its $15.3 billion debt restructuring plan to re-categorise its creditors in a bid to address concerns raised by a creditor. When a company first becomes insolvent, it becomes necessary to carry out corporate recovery. AAX shares finished 7.14% or half a sen lower at 6.5 sen today, giving the group a market value of RM269.63 million. © All rights reserved. Cumulative LPS for 9MFY20 came in at 28 sen from 9.5 sen in 9MFY19.
2020 debt restructuring scheme malaysia