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Ezion suspends shares, seeks restructuring

Reuters Published on Mon, Aug 14, 2017 / 4:04 PM GMT+8

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SINGAPORE (Aug 14): Singapore-based oil services company Ezion Holdings said trading in its shares would be suspended temporarily as it is in talks with stakeholders such as bank lenders and creditors about its financing and capitalisation structure.

The company, which owns a fleet of liftboats, said it is reviewing its options to strengthen its financial position and preserve value for its stakeholders.

Singapore's offshore and marine industry has been hit by low oil prices, weak charter rates and delays to projects, forcing many firms to restructure debt and cut costs.