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Pacific Radiance
PACIFIC Radiance said in a filing to Singapore Exchange on Wednesday that while a US$10.1 million sum of doubtful receivables in relation to Swiber's implosion will have an impact on its net tangible assets and earnings per share for the financial year ending Dec 31, 2016, its cash flow position will not be affected significantly.
It sought to distance itself from Swiber's turmoil, saying that it operates in a different business segment and on a different model from Swiber's. It added that it has been rolling out various measures to mitigate risks since the industry began slowing down in 2014.
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