USP Group Limited (SG:BRS) has released an update.
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USP Group Limited, currently under interim judicial management, has announced an implementation agreement with Hinterland Investments Pte. Ltd. to secure rescue financing aimed at supporting the company’s restructuring efforts. The group, with diverse interests including marine engine products and waste oil recycling, is awaiting a court decision on its management status. The investor, founded recently and led by significant shareholder Melvin Tan, is focusing its activities on this critical financing agreement.
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