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Article: Time Engineering unveils restructuring plan to settle debts

Article from:
New Straits Times
Article date:
January 29, 2000
Author:
Copyright

Farah Jaafar; Azrani Rustam
New Straits Times
01-29-2000
Time Engineering unveils restructuring plan to settle debts
Byline: Farah Jaafar; Azrani Rustam
Edition: Main/Lifestyle; 2*

KUALA LUMPUR, Fri. - Debt-ridden Time Engineering Bhd, whose travails have been dominating the local stock market these past few weeks, today unveiled its restructuring plan that promises to not only pay its creditors but also place the company on a strong footing.

In a much anticipated announcement, the company detailed a proposal that will reduce substantially its RM4.8 billion debt, It will also list its telecommunications subsidiary - Time dotCom Bhd - on the Kuala Lumpur Stock Exchange by the end of the year.

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