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Ezion says there won't be material impact from POSH JV's loan default

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Fiona Lam

Fiona Lam

Published Fri, Sep 20, 2019 · 09:50 PM

Singapore

THE default on US$27.6 million worth of debt, as well as any cross defaults, by a PACC Offshore Services Holdings (POSH) joint venture (JV) has no material impact on offshore and marine group Ezion Holdings, the latter confirmed on Friday.

POSH had announced on Thursday that the JV, POSH Terasea Pte Ltd (PTPL), was in default on a loan facility as at Sept 17.

Ezion

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