Scomi Energy unit defaults on RM55m bonds

SESB said to date, KMCOB had partially built up about RM22mil in the sinking fund and was short of about RM33mil to repay the Series E of KMCOB bond.

KUALA LUMPUR: Scomi Energy Services Bhd's (SESB) unit KMCOB Capital Bhd has defaulted in redeeming or repaying the Series E of the guaranteed serial bonds (KMCOB bond”) issued amounting to RM55mil.

It said on Friday the payment date being the maturity date for the redemption of Series E was on Saturday, which is a non-working day.