Singapore wrestles with corporate life support

Singapore

THE going-concern issue is becoming a problem in Singapore.

Ezra Holdings Ltd, an oil-services company, was the latest to indicate it faces debt hurdles that require a restructuring. Under Singapore law, as in the US, that could mean a stay on interest payments until creditors and shareholders agree on a balance sheet that allows the company to keep operating and eventually to pay most of its dues. Specialised courts and judges also should lead to better outcomes, which is partly why the city-state is trying to become a regional hub for restructuring.