More funding support ahead for marine firms
MTI announces enhancements to Internationalisation Finance Scheme and reintroduction of Bridging Loan facility
Singapore
MARINE and offshore engineering (M&OE) companies in Singapore will soon enjoy more financing support from banks and the government as the industry contends with prolonged weakness in oil prices amid global economic uncertainty.
The Ministry of Trade and Industry (MTI) on Friday announced enhancements to IE Singapore's Internationalisation Finance Scheme (IFS), as well as the reintroduction of Spring Singapore's Bridging Loan (BL), for companies in the M&OE industry.
MTI said these measures will help address the intensifying financing challenges faced by the M&OE industry in recent months as it experiences a "unique and prolonged slowdown". Both schemes will facilitate M&OE companies' access to working capital and financin…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Syngenta to withdraw China IPO application on weak market: sources
Chinese firms’ fundraisings in limbo as IPOs scrutinised at home and abroad
China’s Huawei continues rebound with strongest earnings growth since 2019
Hatten Land gets notice of default, letter of demand for RM14 million, appoints financial adviser
ComfortDelGro wins contracts to run buses in Manchester
Sam Bankman-Fried, at sentencing, acknowledges FTX customers have suffered