KUALA LUMPUR: Bina Puri Holdings Bhd
has received approval in principle from participating lenders for its proposed restructuring scheme (PRS), following mediation by the Corporate Debt Restructuring Committee (CDRC).
In a filing today, Bina Puri said the CDRC, a committee under the purview of Bank Negara Malaysia, had informed the company that participating lenders representing at least 75 per cent in value had approved the terms and conditions of the PRS.
It said the PRS is therefore binding on all participating lenders pursuant to Section 8.8 of the CDRC Code of Conduct.
Bina Puri said its scheme meeting will be held on June 30, 2026, or any adjournment thereof, for the company’s scheme creditors to consider and, if thought fit, approve the proposed scheme of arrangement.
Earlier this year, Bina Puri announced that it had obtained a six-month extension of its informal debt standstill from the CDRC, pushing the standstill period to Aug 6, 2026, to provide the group with more time to finalise its restructuring plan. - Bernama
