SHARES in Viking Offshore & Marine (VOM) will resume trading at 9 am on Aug 23, as the company has received approval-in principle (AIP) to do so from the Singapore Exchange (SGX).

Trading in the shares in the company, which has completed a court-supervised restructuring exercise, has been suspended from trading on the SGX since June 14, 2019.

In a filing to the Singapore bourse on Friday, VOM said that it has fulfilled all the AIP conditions set out.

In an announcement to the exchange on July 31, the company disclosed that its board believed that the group was able to operate as a going concern, and that it had sufficient working capital for its present requirements and for at least a year from the resumption of trading in its shares.

VOM suspended trading in its shares when it was seeking a debt restructuring and a moratorium against creditors seeking payment. The offshore and marine system solutions provider had said it was in a net negative current asset position, with net current liabilities of S$11.1 million as at Dec 31, 2018.

At that point, its independent auditor Ernst & Young had also issued a disclaimer of opinion on the group's FY18 financial statements, casting doubt on the group's ability to continue as a going concern.

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