Ezion dives deeper in the red; board suspends trading

Singapore

EZION Holdings' chairman and chief executive have asked shareholders to pray for them, after the board suspended trading on Friday.

Talks with a potential strategic investor have reached an advanced stage, the board disclosed in a bourse announcement in the evening.

This comes as the troubled offshore and marine group, which went through a debt restructuring last year, reported widening losses for both the fourth quarter and full year.

Ezion, which issued a profit guidance on Feb 4, posted a net loss of US$390.8 million for the three months to Dec 31, 2018, or 18 per cent deeper into the red than in the previous year…