Company Briefs : Garuda
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Garuda
A Jakarta court has for the third time extended state-controlled airline Garuda Indonesia's debt restructuring deadline by another month, a court-appointed curator for the case said yesterday.
Garuda started the court-led restructuring process on Dec 9, after a vendor petitioned the court over unpaid bills. It has repeatedly requested more time to negotiate restructuring terms and verify US$13.8 billion (S$19 billion) of claims against it. The airline has said the claims were bigger than the US$9.8 billion it has in its books and that it would seek to cut its total liabilities to US$3.7 billion under the process.
REUTERS
Harley-Davidson
Harley-Davidson said on Thursday it will suspend vehicle assembly and shipments for a two-week period, excluding those from its electric-vehicle division LiveWire, due to a parts issue related to a supplier.
The iconic motorbike-maker said the decision was made after a third-party supplier, which was not named, informed Harley about a regulatory compliance matter relating to its component part.
The firm began outsourcing motorbike production for shipment to the European Union from the United States in 2018, in response to retaliatory tariffs imposed by the EU on steel and aluminium products.
REUTERS
Ezion Holdings
The liquidators of Ezion Holdings are planning to apply for the company to be delisted from the Singapore Exchange (SGX).
The beleaguered liftboat operator had previously stated it faced difficulties procuring investment, and was unable to proceed with its restructuring and recapitalisation plans. It went into liquidation in February.
In a bourse filing yesterday, the liquidators said their review found that the company is insolvent and its debts far exceed its realisable assets.
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