Triyards Marine Services wound up by Tractors Singapore

TRIYARDS Marine Services has been ordered to wind up, upon the application by its creditor Tractors Singapore.

The court order was issued on July 5 and a notice of the winding-up order was published in the newspapers on Thursday. The liquidators for the winding-up are Joshua James Taylor and Yit Chee Wah of FTI Consulting (Singapore).

Regional Caterpillar dealer Tractors Singapore filed the application against Triyards Marine Services on Oct 3 last year.

It was reported last year that Triyards Marine Services had also received statutory demands for US$14.6 million from Taiwanese lender CTBC Bank and for around US$800,000 from a supplier.

Triyards Marine Services is a subsidiary of Triyards, the shipyard arm of Ezra Holdings. Ezra has been hit by the oil-and-gas slump.

Trading of Triyards shares has been suspended since September 2017 about six months after Ezra, a former stock market darling, filed for US Chapter 11 bankruptcy.