Malaysian offshore vessel builder and owner Nam Cheong is the latest Singapore-listed offshore firm to seek restructuring.
In a statement to the Singapore Exchange Nam Cheong said it had taken steps to review options to restructure its business, which were part of ongoing measures to ride out the challenging market.
Nam Cheong said it was holding discussions with its principal lenders to address significant debt maturities, which could involve refinancing and restructuring of loans.
The company has MYR948.7m ($215.7m) in liabilities which are classified as current as at 31 December 2016, which includes a MYR278.6m medium term note issue due for repayment on 28 August this year.
The group is in discussions with a number of its creditors and k…
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