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Otto Marine's shares tumble over creditor's winding-up application

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Published Mon, Apr 27, 2015 · 09:50 PM

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    Flash in a pan?

    Singapore

    SHARES of shipbuilder Otto Marine tumbled to a two-week low on Monday after the company said over the weekend that an unnamed creditor is attempting to wind it up over about S$1.6 million in debt.

    The winding-up application has turned out to be short-lived, though, after Otto Marine said in a Singapore Exchange (SGX) filing on Monday that it had paid up the claimed amount in full.

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