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Swiber subsidiaries file for liquidation
TWO wholly-owned subsidiaries of Swiber Holdings have filed for liquidation.
The appointed judicial managers of Swiber Holdings said Swiber International Pte Ltd and Equatoriale Services Pte Ltd have applied to undergo creditors' voluntary liquidation.
The respective board of directors at the two entities have also appointed Bob Yap Cheng Ghee, Graham Hunter Martin and Toh Ai Ling from KPMG Services Pte Ltd as the joint provisional liquidators.
The creditors' voluntary liquidation of the two Swiber subsidiaries commenced on March 27, 2017.
The JMs said the two subsidiaries are dormant companies and their voluntary liquidations are part of ongoing efforts to streamline the corporate structure and restructure group operations of Swiber Holdings.