Bintai Kinden Corp Bhd, which fell into Practice Note 17 status in March 2023, has obtained an interim settlement plan from a debtor as well as the approval of its shareholders for a private placement exercise, developments the group hailed as "strategic advancements towards financial resiliency and operational vitality". Its unit Optimal Property Management Sdn Bhd has accepted an interim settlement proposal with Kolej Teknologi Islam Melaka Bhd over its default and outstanding debts of RM58.9 million. — Bintai Kinden secures RM59m debt settlement plan, shareholders' nod for private placement