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Taiping shipping responded not to sell the headquarters building!
Aug 26, 2020|
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At the same time, it also responded to the news reported by Singapore media that Taiping shipping will sell its headquarters building. At present, it has no plan to sell its headquarters building in Singapore.
The two sides have reached a temporary financing agreement, and Heliconia provides PIL with temporary financing of US $100 million to US $110 million to meet its most urgent operational needs.
PIL said the letter of intent was put on the market to better assess the current market value of the building, which was not linked to the financing negotiations of helionia.
Taiping declined to disclose more details of the rescue with Temasek's subsidiary. "With regard to the broader investment planned by helionia, PIL will be announced separately when there is significant progress," it said
According to reports, Heliconia's $400 million rescue is not considered enough to save the company, and it also means a substantial dilution of the holding Zhang family's shares. Regarding the role of the Zhang family in the future group, PIL responded: "it is too early to comment on this."
The company pointed out that other efforts to maintain the company's normal operation include rationalizing services and reducing asset costs when necessary, and added that "any further restructuring of services will be based on an ongoing assessment of market conditions and will not consider mass layoffs.".
In fact, for the past 18 months, Taiping shipping has been in a state of paying off debts and selling assets.
