Company Briefs : KrisEnergy

KrisEnergy

Upstream oil and gas firm KrisEnergy has extended the maturity of its revolving credit facility (RCF) from DBS by an initial six months to June 30.

The facility may be further extended to June 30, 2024, while certain covenants will be tightened, when KrisEnergy completes necessary parts of its financial restructuring. About US$185 million (S$244.6 million) in outstanding principal is owed by KrisEnergy (Asia) under the RCF as at yesterday. Keppel Corp holds the key economic risk in the RCF, as the conglomerate has an indirect interest in the facility through a bilateral contract with DBS.

THE BUSINESS TIMES

Credit Bureau Asia

Credit Bureau Asia (CBA) launched Myanmar’s first credit bureau on Wednesday.

The Myanmar bureau is a 60:40 joint venture between MB Investment, a company formed by members of the Myanmar Banks Association, and CBA’s wholly owned subsidiary NSP Asia Investment Holding.

The new Myanmar Credit Bureau will support financial institutions and consumers in Myanmar by implementing a credit reporting system to promote responsible lending, CBA said.

THE BUSINESS TIMES

Amazon

Amazon.com said on Wednesday that it would acquire podcast start-up Wondery, aiming to beef up non-musical content on its Amazon Music app.

Last month, The Wall Street Journal reported that the firms were in deal talks, pegging Wondery at a valuation of more than US$300 million (S$396.8 million).

Amazon is a relatively late entrant to the booming podcast space, a key area of focus for Spotify Technology, which has been investing in big names in an effort to become the Netflix of audio content.

REUTERS

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