Triyards sinks into US$162.5m full-year loss

Singapore

TRIYARDS Holdings, the yard-operating unit of offshore marine firm Ezra Holdings, has swung deep into the red - a plunge worsened by the termination of two shipbuilding contracts worth some US$51 million.

In a Singapore Exchange (SGX) filing on Friday, the company said that its Vietnam facility, Saigon Offshore Fabrication and Engineering Ltd, has received termination notices from the customer which is claiming reimbursements of all sums paid in advance amounting to about US$10.2 million.