It is not clear from the first story why Boustead Beef was described as a new partner when it signed an agreement with the government in January 2019. More importantly it was not clear why the revival of the plant was centred on repairing compressors and not what Boustead Beef agreed with the government.
According to the agreement Boustead Beef was supposed to invest US$45 million in the first year as follows:
None of these were fulfilled resulting in the government seeking corporate rescue for the company.
In terms of the corporate rescue plan, the practitioner was supposed to:
Continued next page
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This post was last modified on August 29, 2021 9:41 am
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