ASL getting S$99.9m club loan facility
Singapore
MAINBOARD-listed ASL Marine has lined up a new S$99.9 million five-year club term loan facility to tide over the multi-year downturn in the offshore and marine (O&M) industry.
ASL Marine's chairman and managing director Ang Kok Tian told The Business Times in an exclusive interview on Monday that the vessel owner-operator and shipbuilder has taken on the new loan facility as part of a three-pronged strategy to build a cash buffer for the prolonged sectorial winter.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China’s top airlines improve balance sheet in Q1; outlook positive for May Day
Stablecoin issuer Tether invests US$200 million in brain-computer interface company
Yahoo to lay off staff in Singapore as it shifts to content curation
US: Wall St opens higher on megacap strength, Fed verdict awaited
IReit Global occupancy rate grows to 91.5% in Q1
Yen surges against US dollar on suspected intervention