Swiber white knight may come from outside industry

Singapore

THE ongoing judicial management (JM) proceedings of beleaguered Swiber Holdings have granted debt holders extra time to explore the possibility of a softer landing against unrelenting headwinds in the offshore and marine (O&M) industry.

This could also be the biggest takeaway for Swiber's stakeholders from the JM process, industry and legal practitioners said as the listed group's interim judicial management (IJM) report was due on Friday for submission to the Supreme Court.