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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.

Sole marketing agent Savills Singapore told The Business Times (BT) on Tuesday that the property "has never been officially...

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