Survey highlights huge debts carried by Singapore-listed offshore firms

A survey carried by Singapore’s Business Times shows the precarious financial state of many of Singapore’s offshore listed firms. In the wake of the demise of Swiber Holdings last month, most offshore-related firms on the Singapore Exchange have been severely rattled.

Business Times drew on data released as of August 19 on Bloomberg, latest company results, and analyst reports.

Of the 14 companies on the list, 12 have short-term debt of over S$100m ($73.5m), 10 have negative/low cash flow, and nearly all are highly geared.

http://splash247.com/survey-highlights-huge-debts-carried-singapore-listed-offshore-firms/