KUALA LUMPUR (Dec 17): Perak Corp Bhd has proposed a scheme of arrangement with its creditors that includes cash settlements worth over RM220 million, issuance of shares worth over RM30 million and a debt waiver amounting to RM544.55 million. "The proposed scheme of arrangement is a comprehensive proposal aimed at resuscitating the financial viability of Perak Corp Group by restructuring the repayment of indebtedness due to the scheme creditors and the consequential interest servicing burden,” the group said. “This will alleviate the financial burden of Perak Corp Group and enable the group to focus on reviving its business," it said in a filing with Bursa Malaysia.