Swiber's headquarters in Jurong put on market for S$40m

SWIBER Holdings' headquarters, initially meant to be transferred to a new holding group (New Swiber), has been offered for sale via private treaty with a guide price of S$40 million.

The troubled offshore and marine group had acquired the leasehold, five-storey office building at 12 International Business Park for S$37 million back in 2011, using internal resources and bank borrowings.

Debt-laden Swiber Holdings and its subsidiary Swiber Offshore Construction (SOC) have been under judicial management since 2016, with creditors stuck in limbo after it defaulted on bond payments.