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BRIEF-Nam Cheong receives writ of summons and statement of claim from OCBC
June 20, 2017 / 1:45 PM / a month ago

BRIEF-Nam Cheong receives writ of summons and statement of claim from OCBC

1 Min Read

June 20 (Reuters) - Nam Cheong Ltd

* co and unit received writ of summons dated 2 june 2017 and statement of claim dated 26 may 2017 by ocbc in high court of labuan, malaysia

* ocbc is claiming against ncil as borrower under a credit facility granted by ocbc for sum of usd10 million as at 30 april 2017

* refers to announcement that group and its advisers held discussions with principal lenders to address significant debt maturities

* as result of initiatives,on-going discussions for restructuring, board is of view that group is able to operate as going concern as at june 20 Source text for Eikon: Further company coverage: (bangalore.newsroom@thomsonreuters.com)

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