SINGAPORE: Ezra Holdings Ltd., an indebted Singapore-based provider of offshore oil services, said its working with advisers on restructuring and that it could be faced with a going concern issue if its revamp isnt favorably completed.
In light of the severe and protracted downturn in the global oil and gas industry, the group will continue to work with its advisers to review all options to restructure its businesses, operations and balance sheet, Ezra said in a statement to the Singapore stock exchange Friday. The company also said it was assessing its investment in Emas Chiyoda Subsea Ltd. and may have to write down $170 million in relation to the venture.
The filing by Ezra shows the latest stress for the offshore oil and gas services s…
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