Ezion said Friday it entered deals to dispose of its 50% interest in Strategic Offshore and its 30% stake in associate Rotating Offshore Solutions.
Ezion said Thursday it entered a deal to divest its 49 percent stake in PT Pelita Bara Samudera to PT Karya Pilar Sukses for US$2.05 million.
These are Singapore companies which may be in focus on Wednesday, 13 Nov. 2019: SATS, CityDev, Yanlord Land, Sembcorp, Cromwell European REIT and BreadTalk.
Ezion said Tuesday it agreed to sell three rigs to TK and HR Services for the nominal sum of US$3.00, and the transfer of US$659,000 in liabilities.
POSH said Thursday its joint venture, POSH Terasea (PTPL) would be voluntarily liquidated by creditors after it defaulted on a loan facility.
Ezion said Tuesday Yinson’s offer to subscribe to its shares and convert its debt into equity has lapsed, with conditions unmet after six months.
PACC Offshore Services Holdings said Saturday that the event of default for its 50 percent-owned joint venture PTPL, had triggered a cross-default.
POSH, said Thursday an event of default has occurred on a loan facility to POSH Terasea (PTPL), a 50-50 joint venture with Terasea.
Ezion reported Friday a 2Q19 loss after tax of US$363.91M, swinging from a profit after tax of US$96.10M in the year-ago period, after taking impairments.
Ezion Holdings warned Thursday it expected to report a “significant” net loss for the second quarter and first half due to asset impairments.
Ezion Holdings said Friday it has reorganized its senior management team, effective Monday.
Ezion Holdings reported Wednesday its 1Q19 loss after tax narrowed to US$12.85 million from US$40.37 million in the year-ago period, amid lower expenses.