O&M players eyeing govt backstop for debt pool

Singapore

EMBATTLED offshore and marine (O&M) players' ultimate wish list may be for the state to backstop loans to spur banks to lend but for now, they are seeking some "low hanging fruits" for a reprieve amid wrenching times.

Higher working capital loans, lower rents for JTC facilities and relief from foreign worker levy are some of the "immediate relief" being sought by the O&M players from the government, Singapore Business Federation (SBF) chief executive Ho Meng Kit told The Business Times.

These possible "mitigating actions" have cropped up in the dialogues between industr…