LOSS-MAKING Pernas International Holdings Bhd (PIHB) now expects to complete its massive debt-restructuring scheme in the third quarter rather than the middle of this year, as originally targeted. The exercise would slash the group's borrowings to RM1.8bil from RM2.4bil.
PIHB chief executive officer Mohd Redza Shah Abdul Wahid said the debt restructuring was taking longer than expected because many approvals, including those from the authorities, were needed for its implementation.