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Singapore Retail Investors to Vote on PIL's Fate – gCaptain

By David Ramli and Ameya Karve (Bloomberg)
Creditors to struggling Singapore shipper Pacific International Lines Pte will vote Monday on a restructuring deal that involves a capital injection from a unit of Temasek Holdings Pte.
It’s an important day for investors who oppose the plan like Singapore businessman Kuah Ann Thia, an unsecured noteholder – the most vulnerable in the bond world. He and other individual investors hold parts of PIL’s S$60 million security ($45 million) that came due in November but which the shipper hasn’t repaid.
Kuah had initially felt relief last year when he heard that the Temasek unit was providing a $600 million package comprising debt and equity to PIL. But he said he became worried when he saw the company’s restructuring plan. Under the so-called scheme of arrangement, it could be at least five years before unsecured noteholders saw actual cash payments, according to presentation materials. ....

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Singapore retail investors to vote on distressed shipper's fate

SINGAPORE (Feb 1): Creditors to struggling Singapore shipper Pacific International Lines Pte will vote Monday on a restructuring deal that involves a capital injection from a unit of Temasek Holdings Pte.
It’s an important day for investors who oppose the plan like Singapore businessman Kuah Ann Thia, an unsecured noteholder – the most vulnerable in the bond world. He and other individual investors hold parts of PIL’s S$60 million security ($45 million) that came due in November but which the shipper hasn’t repaid.
Kuah had initially felt relief last year when he heard that the Temasek unit was providing a $600 million package comprising debt and equity to PIL. But he said he became worried when he saw the company’s restructuring plan. Under the so-called scheme of arrangement, it could be at least five years before unsecured noteholders saw actual cash payments, according to presentation materials. ....

Pacific International Lines Pte Ltd , Singapore Branch , Chinatrust Commercial Bank Co , United Oversea Bank Ltd , Hyflux Ltd , Bank Ltd , Sumitomo Mitsui Banking Corp , Temasek Holdings Pte Ltd , Temasek Holdings Pte , Kuah Ann Thia , Bloomberg News , United Oversea Bank , பெஸிஃபிக் சர்வதேச கோடுகள் ட் லிமிடெட் , சிங்கப்பூர் கிளை , வங்கி லிமிடெட் , ஸூமிடோமொ மிட்ஸ்யூயீ வங்கி கார்ப் , தேமாஸேக் ஹோல்டிங்ஸ் ட் லிமிடெட் , தேமாஸேக் ஹோல்டிங்ஸ் ட் , ப்ளூம்பெர்க் செய்தி ,