Siab accepts Yong Tai debt settlement

PETALING JAYA: Siab Holdings Bhd’s wholly owned subsidiary, Siab (M) Sdn Bhd, has accepted the proposed debt settlement arrangement from YTB Development Sdn Bhd, a subsidiary of Yong Tai Bhd.

In a filing with Bursa Malaysia yesterday, Siab said the proposed settlement involved offsetting outstanding balances owed by YTB Development to Siab and its subsidiaries with properties owned by the latter.