Ley Choon’s Catalist transfer rejected over debt restructuring plan

Its working capital sufficiency is up in the air.

Ley Choon stated in a regulatory announcement that its transfer from the main board to Catalist was rejected by SGX due to its ongoing debt restructuring.

SGX noted that Ley Choon’s sufficiency of working capital for at least 12 months after the proposed transfer relies on whether financial institutions will accept Ley Choon’s debt restructuring plan.

Ley Choon further stated that it may re-apply for a transfer to the Catalist when its restructuring plan has been completed, and accepted by financial institutions.

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