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Indonesian tycoon Kris Wiluan's KS Energy faces possible winding-up over unpaid loans
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KS Energy's chief executive Kris Wiluan was hit with 112 charges for alleged market rigging and false trading on Aug 5, 2020.
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SINGAPORE - Troubled offshore marine company KS Energy has been dealt another blow after creditor OCBC issued letters of demand to the firm and its eight units to pay up outstanding loans of US$230.7 million (S$316.2 million) and $10.3 million, or face legal action, including a possible winding-up.
KS Energy in a filing to the Singapore Exchange on Wednesday (Aug 12) said that, with the letters of demand, the company "is unable to reasonably assess its financial position".
