Trade payables pile up at Triyards' Vietnam unit
Observers say company and its units have "under-priced" bids to win shipbuilding projects, leading to financial woes
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TROUBLED Triyards Holdings' subsidiary in Vietnam is facing difficulty paying its suppliers even after delivering its shipbuilding projects - a signal of the mounting liquidity crunch that has beset the yard-operating arm of financially distressed Ezra Holdings.
The Business Times understands that Triyards' subsidiary Strategic (V) Marine Co has in fact run up trade payables that are over a year old.
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