Pacific Radiance receives S$85m lifeline amid prolonged downturn
The loans come from two financing schemes under IE Singapore and Spring Singapore
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Singapore
OFFSHORE marine support services company Pacific Radiance has received S$85 million in loans under two Singapore government-backed financing schemes to help it tide over the prolonged marine and offshore engineering industry (M&OE) downturn.
The overdraft, disbursed under the Internationalisation Finance Scheme (IFS) by International Enterprise (IE) Singapore and the Bridging Loan Scheme (BLS) by Spring Singapore, will support the firm's working capital needs over the medium-term, Pacific Radiance said in a statement issued on Thursday.
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