Growing strains in debt-laden companies stir concerns about corporate Malaysia

  • 📰 The Straits Times
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

KUALA LUMPUR - The financial woes of two large and prominent local companies are stirring concerns about the overall health of corporate Malaysia - particularly debt-laden publicly listed entities - amid the Covid-19 pandemic.. Read more at straitstimes.com.

KUALA LUMPUR - The financial woes of two large and prominent local companies are stirring concerns about the overall health of corporate Malaysia - particularly debt-laden publicly listed entities - amid the Covid-19 pandemic.

"Government support in the form of the moratorium on loans needs to be phased out over time and not done abruptly. Also, banks need to be practical when dealing with borrowers because pulling the plug on one can have a dangerous knock-on effect," he said. Mr Lim stunned investors last month when cruise operator Genting Hong Kong Ltd, a listed entity in which he personally controls close to 80 per cent, declared that it would suspend all payments to creditors because of serious impairments in its business battered by international lockdowns that forced the closure of its casinos and resort worldwide.

The national oil company also spearheaded the development of the country's administrative capital Putrajaya during the crisis years which was vital in boosting a slumping construction sector.

 

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

United States United States Latest News, United States United States Headlines

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

World's top companies urge action on nature loss ahead of UN talksSome of the world's biggest companies on Monday (Sep 20) backed growing calls for governments to do more to reverse the accelerating destruction ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »