Vietnamplus

Garuda Indonesia has entered a court-supervised restructuring process as the debt-ridden airline tries to rescue itself from bankruptcy.

National carrier Garuda Indonesia has grounded two-thirds of its fleet, citing leasing issues and maintenance needs.

Bus companies, railway and airline firms have been struggling to survive amid the impacts of COVID-19 for a year and a half.

The SME Association of Malaysia (SME Malaysia) has urged the Government not to impose a full lockdown on the economy, warning that nearly 40 percent of small- and medium-sized enterprises (SMEs) will go bankrupt if that happens.

Many tourism-related firms that have borrowed from banks are facing foreclosure due to the latest outbreak of COVID-19 infections.

Local construction firms face the risk of bankruptcy as the price of steel has soared 40 percent recently.

More than 6,000 enterprises in HCM City have resumed operations following the containment of the COVID -19 pandemic and more than 30,000 new ones with capital of 696 trillion VND have been set up this year, the city chairman has said.

The severe economic blows from COVID-19 have forced scores of businesses to suspend operations and even file for bankruptcy, with real estate companies among the hardest hit.

The Central Bankruptcy Court of Thailand on September 14 approved a request for a debt restructuring plan of Thai Airways International Plc, the nation’s flagship carrier, which has been hit hard by the COVID-19.

Risk provision may write some revenue off the record for Song Hong Garment JSC as the company prepares for the likely bankruptcy of its US partner’s parent firm.

The National Assembly Standing Committee on July 14 passed a resolution on the new environment tax on jet fuel.

The on-going COVID-19 pandemic is seriously damaging Cambodian logistic providers, with about 10-15 percent heading for bankruptcy in the upcoming months, according to the Cambodia Freight Forwarders Association (CFFA).

Thai Airways International (THAI) has lost its state enterprise status after the Vayupak 1 Fund bought a 3.17 percent stake from the Finance Ministry of Thailand.

The Thai Cabinet on May 19 approved a plan to restructure Thai Airways International (THAI) following the Transport Ministry's proposal that it must undergo rehabilitation under the Bankruptcy Act.

A State Enterprise Policy Committee meeting on May 18 approved a rehabilitation plan for Thai Airways International to solve the carrier’s financial difficulties, Prime Minister Prayut Chan-o-cha said.

Some Vietnamese enterprises have recently reported losses incurred from business contracts with partners in the US market, according to the Vietnam Trade Promotion Centre in New York.

Flowers and ornamental trees grown in Hong Van commune, Hanoi's Thuong Tin district, have become not only farming products but also tourism ones. Farms, roads and houses in the suburban area are also destinations for visitors.

Deputy Prime Minister Trinh Dinh dung on September 29 afternoon officially ordered the technical opening of the Bac Giang – Lang son expressway project.

Nine of 13 bus enterprises and co-ops in Ho Chi Minh City have asked for a reduction of bus trips on several lines as their subsidies are lower than bus owners’ expenditures.

The State has yet to pay its committed capital to the investor of the Hanoi – Hai Phong expressway, putting it at risk of bankruptcy.