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Hot stock: UOB down 1.35% on Swissco's US$167.1m debt

Thursday, November 24, 2016 - 09:27

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LOCAL lender UOB's stock was among the top losers on Singapore Exchange on Thursday morning, as a report found that the bank is owed US$167.1 million by Swissco Holdings and its joint ventures.

The stock was down 1.35 per cent or S$0.27 to S$19.68 as at 9.15am.

Court filings state that UOB is the embattled firm's largest creditor.

The filings were part of the application for court-supervised management made by the rig and vessel chartering group on Monday.

Swissco is the third Singapore-listed oil services firm to opt for judicial management in recent months.

sentifi.com

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