News Formal

Restructuring of oil trader Zenrock would 'preserve only a fraction of its business': KPMG

  • 📰 The Straits Times
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

SINGAPORE - Embattled ZenRock Commodities Trading was granted judicial management on Monday (July 13) but the judicial managers have noted that any restructuring of the firm now under Commercial Affairs Department investigation would 'at best preserve only a fraction of its business'.. Read more at straitstimes.com.

SINGAPORE - Embattled ZenRock Commodities Trading was granted judicial management on Monday but the judicial managers have noted that any restructuring of the firm now under Commercial Affairs Department investigation would"at best preserve only a fraction of its business".

KPMG staff members Martin Wong, Bob Yap and Toh Ai Ling, who were confirmed as judicial managers on Monday, said in a report filed on July 9 with the High Court that ZenRock was"unlikely to continue in the long term under its original three pillars of business".Enjoy unlimited access to ST's best work Subscribe Now

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Exclusive: US turns screws on maritime industry to cut off Venezuela's oilSeveral companies that certify vessels are seaworthy and ship insurers have withdrawn services to tankers involved in the Venezuelan oil trade as ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »