NK Ingredients was previously granted moratorium by the Singapore High Court on its proposed scheme of arrangement to creditors, under which it paid SB REIT rent owed for April-May 2019. The moratorium has since been extended for a period of eight weeks until 22 July, subject to the company’s payment of rent owed for June and July on the first day of the respective months.
SINGAPORE (May 31): OCBC Investment Research is maintaining “hold” on Soilbuild Business Space REIT (SB REIT) with an unchanged fair value of 62 cents as the REIT continues to await rent payment due from its master lease tenant, NK Ingredients.
To recap, the distressed lanolin manufacturer is in the midst of restructuring.
