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Penguin pledges S$10m to debt-laden Marco Polo Marine

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Penguin's executive chairman Jeffrey Hing and eight other investors are betting on valuations of Marco Polo's assets improving when the market improves and the company turns around.

Singapore

PENGUIN International's executive chairman Jeffrey Hing said that the listed entity has pledged S$10 million as "a passive investor" in debt-laden Marco Polo Marine though it is confident that the latter stands to turn around with S$60 million of new equity from nine investors

sentifi.com

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