DHC Capital advised Swee Hong Ltd (SGX: QF6) on proposed scheme of arrangement; creditors vote in favour of restructuring plan
DHC Capital advised on the debt restructuring and proposed scheme of arrangement of Swee Hong Ltd (SGX: QF6). The creditors meeting was held virtually on 2 September 2020, at which the scheme creditors voted in favour of the proposed scheme of arrangement. DHC Capital Partner, David Chew acted as Chairman of the scheme meeting.
The scheme obtained the approval of 90.6% in number and 81.8% in value from scheme creditors present and voting at the scheme meeting.
Read on for Swee Hong Ltd’s announcement on the outcome of voting on the scheme.
About Swee Hong Ltd
Swee Hong Ltd is listed on the Main Board of the Singapore Exchange. Swee Hong Ltd is registered with the Building and Construction Authority (BCA) as a civil engineering contracting firm. Swee Hong Ltd applied to the Court pursuant to Section 211B of the Companies Act to seek a moratorium against enforcement actions and legal proceedings by creditors. DHC Capital has been appointed as independent financial advisor to Swee Hong Ltd to advise on the debt restructuring and scheme of arrangement.