Ingress secures one-month extension to cure breaches on RM 160 million Sukuk

By Caroline Salls

Pittsburgh, May 13 - Ingress Corp. Bhd. has secured a one-month extension of its deadline to cure covenant breaches on its RM 160 million Sukuk Al-Ijarah, according to a news release.

As previously reported, the company received a notice of default on the Sukuk in April.

Under the extension, Ingress has until July 26 to cure the breaches, provided that it submits a plan or proposal for the steps it plans to take to cure the breach to the Sukukholders by May 26.

Ingress is a Selangor, Malaysia-based automotive component manufacturer.

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