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SBI Offshore's chief operating officer resigns

SBI Offshore on Thursday announced the resignation of its chief operating officer, David George Aimers Andison, with immediate effect.

Mr Andison, 53, leaves SBI Offshore to pursue other career opportunities, said the company.

Mr Andison was responsible for overseeing the company's operations and providing support for technical and/or commercial bids as well as managing its projects.

His resignation comes amid sweeping management changes in the struggling offshore and marine firm, which announced the resignation of its CEO, Tan Woo Thian, on March 18. Mr Tan, who had served as SBI Offshore's chief executive since 1997, was re­designated as commercial manager of the group.

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The troubled company has been hit hard by weak energy prices, swinging to a net loss of US$4 million for the year 2015, from a net profit of US$610,000 previously. It also announced the termination of a US$24 million design and engineering contract in February.

SBI Offshore's stock closed at 17.8 Singapore cents on Thursday.