In 2019, we saw further developments interpreting the insolvency-related provisions of the Companies Act 2016 (CA 2016). At Mazars we help you with your business restructuring issues. Malaysia’s national airline is seeking to restructure its business after the coronavirus pandemic forced it to slash its operations. MORE companies may seek to restructure their financial positions and operations to avoid going out of business as the Covid-19 pandemic takes Malaysia into its first recession since the 2008/09 global financial crisis. has reached out to lessors, creditors and key suppliers as part of its “urgent” restructuring exercise as it sees little sign of the pandemic easing. Briefly, business restructuring can happen in the following manner: (i) Operational restructuring Operational restructuring is a corporate action taken to significantly modify the structure or the operations of the company, which usually happens when a company is facing significant problems and is in financial jeopardy. KUALA LUMPUR – Malaysia Airlines Bhd (MAB) has embarked on an urgent restructuring exercise to maintain its relevance and survival after being forced to revise its long-term business plan to mitigate the economic fallout brought by the Covid-19 pandemic. [SINGAPORE] Malaysia Airlines' parent company is still holding negotiations with lessors and creditors over a restructuring plan to keep the carrier alive, but the talks are taking longer than planned, according to a staff memo seen by Reuters. ... Head of Restructuring Services, KPMG in Malaysia, Petaling Jaya, Selangor. Malaysia Airlines restructuring talks prolonged, CEO tells staff. Transaction Services . With the current economic climate in Malaysia, many Small Medium Enterprises (SMEs) have experienced a significant drop in income and many business owners are considering to wind up or close down the business entirely due to increasing pressure from creditors on outstanding payments and staff payroll … To complete the series, I now feature the top five restructuring and insolvency cases in Malaysia for 2019. By applying strategic business and know-how, we assist in the restructuring of organizations facing change and crisis. Read more at The Business Times. Malaysia's national airline is seeking to restructure its business after the coronavirus pandemic forced it to slash its operations. Malaysia Airlines Bhd. Business restructuring — whether that be an operational turnaround or a financial restructuring — can be a vital tool in preserving value for a company and its stakeholders. Your business may need some restructuring, whether by improving your organizational structure or making internal operations more efficient. We advise clients that are underperforming, under financial stress or experiencing financial distress. Already, many companies abroad — especially those in the retail sector — have been feeling the brunt of the outbreak. Reuters reported last week that a group of lessors had rejected the restructuring plan that involved steep discounts, bringing the carrier closer to a … Overview on restructuring and corporate rescue options for businesses in Malaysia. If you find that your business is struggling, you will want to get to grips with any operational issues and get back to making a profit. How we add value. Rescue options for businesses in Malaysia, Petaling Jaya, Selangor feeling the brunt the... To slash its operations KPMG in Malaysia for 2019 Act 2016 ( CA ). 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