Swissco sale of 5 vessels raises US$11.2m
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
THE judicial managers of Swissco Holdings said on Tuesday that the sale of five offshore support vessels (OSVs) by wholly owned subsidiaries had raised US$11.2 million in aggregate proceeds to pay down bank debts on the books of the financially distressed offshore and marine group.
The disposals of the five vessels would have resulted in a net loss of about US$4.5 million based on the vessels' net book value of about US$15.7 million as at Sept 30, 2016.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
