Vallianz Holdings has reached a pact with certain creditors to convert trade payables into new shares.
The Singapore-listed company will issue 380.6m shares to settle outstanding bills worth SGD 7.6m ($5.4m).
Thirteen trade creditors will subscribe to the new stock, Vallianz added.
Ling Yong Wah, chief executive of Vallianz, said: “The group has over the years built up long-term working partnerships with our vendors.
“They
