Results for Singapore
- Marco Polo Noteholders Approve Debt Restructuring
Marco Polo Marine’s noteholders have voted to approve a restructuring S50m ($36m) of the Singapore-listed company’s debt, which will give the offshore supply vessel operator breathing space. As a result of the vote, the ordinary maturity date of the note ...
Daily Headline - global.abi.org - 10/16/2016 - 22:19 - 0 comments
- Singapore Court Approves Judicial Management For Troubled Swiber
A Singapore court on Thursday appointed financial advisory firm KPMG as judicial manager for Swiber Holdings Ltd, allowing the troubled oilfield services firm to be kept under a process through which it could be nursed back to health, Reuters reported. S ...
Daily Headline - global.abi.org - 10/06/2016 - 20:49 - 0 comments
- Swissco Joins Debt Restructuring Frenzy
The oil price rebound has come too late with another firm in the offshore sector joining the debt restructuring frenzy amid the most brutal industry downturn in 30 years, The Straits Times reported. Singapore-listed rig and vessel chartering group Sw ...
Daily Headline - global.abi.org - 10/04/2016 - 21:31 - 0 comments
- Another Shipping Insolvency: Rickmers Maritime Trust
Hanjin isn’t the only player in the ocean shipping world that has become insolvent, Global Trade reported. Rickmers Maritime Trust (RMT), a Singapore-listed owner of containerships has become the latest casualty in a growing list of containership owners ...
Daily Headline - global.abi.org - 10/03/2016 - 19:08 - 0 comments
- Shareholders Approve Temasek Buyout of Singapore Rail Operator
Minority shareholders of Singapore's main rail operator SMRT Corp Ltd voted overwhelmingly today in favor of Temasek Holdings' S$1.18 billion ($866 million) bid to take full control of the company, Reuters reported. Of the shareholders present ...
Daily Headline - abi_admin - 09/29/2016 - 15:12 - 0 comments
- Marco Polo Marine Expresses Doubt On Ability To Continue As Going Concern
Mainboard-listed Marco Polo Marine said on Thursday (Sept 22) there may be a "substantial doubt about the group's ability to continue as a going concern", The Straits Times reported. Its statement to the Singapore Exchange accompanied ...
Daily Headline - global.abi.org - 09/21/2016 - 23:07 - 0 comments
- Singapore's Swiber To Default On Coupon Payment
Troubled Singaporean oilfield services firm Swiber Holdings said late on Friday it was unable to make the coupon payment for its 450 million yuan ($67.5 million) fixed rate notes due on Sunday. The company applied in July to place itself under judicial m ...
Daily Headline - global.abi.org - 09/18/2016 - 18:16 - 0 comments
- Singapore Shipping Trust Seeks Debt Restructuring
A Singapore-based shipping trust that operates container ships is asking creditors for leniency on about $253 million of debt, in the latest sign of debt woes in the industry and in the city-state, the Times of Oman reported. Rickmers Maritime won’t ...
Daily Headline - global.abi.org - 09/15/2016 - 22:49 - 0 comments
- Insolvency Cases Running High
The number of firms in Singapore being wound up after encountering financial trouble is set to be on a par with last year's number, which was the highest in 11 years, The Straits Times reported. These figures may even understate the levels of di ...
Daily Headline - global.abi.org - 08/29/2016 - 22:33 - 0 comments
- Singapore Feels Aftershock Of Swiber's Fall
Three weeks into the sudden collapse of Swiber Holdings - the first major casualty of a protracted slump in oil prices - concerns are emerging over possible spillover into the local economy as one-fifth of manufacturing employment is linked to the beleag ...
Daily Headline - global.abi.org - 08/16/2016 - 22:39 - 0 comments