Marco Polo rebuffs media reports on continuing as going concern

23 Sep 2016 - Singapore Business Review
A statement on customary risk factors was misrepresented. Marco Polo has rebuffed media reports that the company is on the rocks, saying in an announcement filed to the Singapore Exchange that the statement on Marco Polo’s ability to continue operating as a going concern was taken out of context. According ...
sgx:5ly

---

Marco Polo seeks noteholders' consent to defer notes' redemption until 2019

22 Sep 2016 - Business Times Breaking News
MARCO Polo Marine has launched a consent solicitation exercise for its S$50 million notes due next month to seek noteholders' approval to defer the redemption of its debt papers by three years to October 2019. The marine logistic group is also seeking to include part of its land in Batam where its shipyard ...
sgx:5ly

---

Cash crunch forces Marco Polo to flag doubt on continuing as a going concern

22 Sep 2016 - Singapore Business Review
It sought approval to defer redeeming $50m in bonds. Marco Polo may be in hot waters, as it recently revealed that it has substantial doubt about being able to continue as a going concern due to a cash crunch. According to a report by Reuters, Marco Polo sought noteholders’ approval to defer redeeming ...
sgx:5ly

---

Singapore's rough week for shipping foreshadows challenging 2017

15 Sep 2016 - Business Times Breaking News
[SINGAPORE] It has been a rough week for Singapore's shipping services industry and the going could get even tougher next year with record debt falling due. Rickmers Maritime, which operates container ships, said Thursday it is asking creditors for leniency on about US$253 million of debt.??Marco Polo ...
sgx:5ly sgx:b1zu

---

Daily Briefing: Olam hunts bolder deals; Singapore named Asia’s most sustainable city

15 Sep 2016 - Singapore Business Review
And Marco Polo plans to delay the payment of bonds. Olam International Ltd., one of the world’s largest food commodities traders, is targeting more acquisitions next year after a $2 billion spree since late 2014 involving deals in cocoa, peanuts and wheat. “We have enough dry powder to execute both our ...
sgx:s68 sgx:5ly sgx:o32

---

Marco Polo Marine plans to delay payment on bonds in Singapore

14 Sep 2016 - Business Times Breaking News
[SINGAPORE] A Singapore provider of barges and tugs for coal, steel scrap and iron ores plans to ask bondholders for approval to delay paying S$50 million of bonds due next month after appointing an external adviser to review its business. Marco Polo Marine Ltd told some noteholders of the plan at a ...
sgx:5ly

---

Marco Polo Marine mulls over delaying payment on bonds in Singapore

14 Sep 2016 - Singapore Business Review
Noteholders are ready to back the group’s decision. Marco Polo Marine plans to delay payment of S$50 million (US$37 million) securities due next month after appointing KPMG Services to review its business. In its SGX announcement, Marco Polo Marine revealed it convened an informal meeting of noteholders ...
sgx:5ly

---

5 Must-Read Quotes from Sembcorp Marine Ltd’s Chief Executive Officer

4 Aug 2016 - The Motley Fool Singapore
Sembcorp Marine Ltd (SGX: S51) is in a bit of a funk at the moment. The oil rig builder suffered a $290 million loss in 2015. In the second-quarter of 2016, its revenue shrank by a quarter while profits plunged by almost 90%. Wong Weng Sun, Chief Executive of Sembcorp Marine, covered a myriad of the ...
sgx:5ly sgx:s51

---

What Investors Should Know About Sembcorp Marine Ltd’s Thoughts On Its Own Future

19 Jul 2016 - The Motley Fool Singapore
Oil rig builder Sembcorp Marine Ltd (SGX: S51) has endured some tough times of late. Earlier in the year, one of its major customers, the Brazilian oil & gas company Sete Brasil, filed for bankruptcy. Meanwhile, Sembcorp Marine is also involved in a legal tussle with another of its customers, Marco Polo ...
sgx:5ly sgx:s51

---

Here’s What SembCorp Marine Ltd’s Shareholders Should Know About the Marco Polo Marine Ltd Debacle

12 Jul 2016 - The Motley Fool Singapore
Oil rig builder Sembcorp Marine Ltd (SGX: S51) has endured some tough times of late. Earlier in the year, one of its major customers, the Brazilian oil & gas company Sete Brasil, filed for bankruptcy. Meanwhile, Sembcorp Marine is also involved in a legal tussle with another of its customers, Marco Polo ...
sgx:5ly sgx:s51

---