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Swissco Holdings Ltd (SWCO.SI)

SWCO.SI on Stock Exchange of Singapore

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Latest Key Developments (Source: Significant Developments)

Swissco Holdings updates on judicial management applications hearing
Friday, 21 Apr 2017 06:24am EDT 

April 21 (Reuters) - Swissco Holdings Ltd : :Judicial management applications hearing announcement.Singapore high court has granted orders putting company and SOPL under judicial management.  Full Article

Swissco Holdings says units and interim judicial managers entered into Memorandum Of Agreement
Thursday, 13 Apr 2017 04:15am EDT 

Swissco Holdings Ltd : Interim judicial managers and its units entered into a memorandum of agreement with Australian Maritime Systems Asset Holdings Pty . Consideration for proposed disposal shall be US$7.2 million . MOA in relation to proposed disposal by SOPL of a vessel known as coral to purchaser .Expected that proposed disposal will result in an estimated net gain of approximately US$1.9 million.  Full Article

Swissco holdings updates on judicial management applications hearing
Tuesday, 28 Mar 2017 03:29am EDT 

Swissco Holdings Ltd : IJMS have been directed by court to file a further report ("3rd report"), by Wednesday, 12 April 2017 . Interim judicial managers are in process of marketing all or parts of assets of company and SOPL . First phase of due diligence reviews has been conducted, and 5 indicative bids have been received . IJMS have been directed by court to file a further report by 12 April 2017 . A further due diligence review is to be conducted, formal bids by way of binding transaction documentation are expected to be received by 2nd week of April . IJMS wish to announce that hearing of applications by CO and SOPL to be placed under judicial management adjourned to friday, 21 April 2017 at 9:00 AM . Outcome of exercise may affect interim judicial managers' assessment as to prospects of one of more of objectives of judicial management being achieved .Judicial management applications hearing announcement.  Full Article

Swissco says Scott and English Energy entered into share purchase agreements with Teras Cargo Logistics
Monday, 27 Mar 2017 07:25am EDT 

Swissco Holdings Limited - : Proposal Disposal Of Interest . Scott and English Energy Pte. Entered into a share purchase agreement with Teras Cargo Logistics Limited . Deal for s$3.5 million in cash . S&E entered into a share purchase agreement with TCLL . S&E shall dispose of its 50% interest in Strategic Excellence Limited to TCLL for a consideration of s$1.5 million in cash .S&E entered into a deed of settlement, waiver and release with Ezion Investments Pte Ltd Sel and Tera Harta Maritime Ltd.  Full Article

Swissco clarifies on Business Times article on Ezion's purchase of 4 rigs
Wednesday, 8 Mar 2017 04:39am EST 

Swissco Holdings Limited : Pdf 1: Swissco Holdings Limited (Clarification On Business Times Article) . Refer to article published in business times on 8 march entitled "Ezion in talks with Swissco Interim Jms to buy out 4 rigs" . IJMS wish to further clarify that if deal is reached with Ezion, upfront cash component of consideration will be received by Scott & English Energy .Confidential discussions are ongoing between IJMS and Ezion investments terms of proposed transaction have not been finalised.  Full Article

Swissco Holdings updates on judicial management applications hearing
Friday, 3 Mar 2017 04:19am EST 

Swissco Holdings Limited : Judicial management applications hearing announcement . IJMS will provide an update when a further pre-trial conference or hearing of judicial management applications is fixed by high court of singapore . IJMS wish to announce that pre-trial conference of applications by co and sopl to be placed under judicial management has been vacated by court. .Interim judicial managers (ijm) of swissco holdings and swissco offshore refer to announcement on matter on 10 february 2017.  Full Article

Swissco Holdings Ltd updates on applications for judicial management
Friday, 20 Jan 2017 04:08am EST 

Swissco Holdings Ltd : IJMS wish to announce that on 5 Jan 2017, IJMS filed report providing update .Update on status of co and SOPL and prospects of achieving one or more of statutory objectives of judicial management.  Full Article

Swissco Holdings Limited updates on applications for judicial management
Friday, 2 Dec 2016 04:57am EST 

Swissco Holdings Limited : Swissco holdings ltd - interim judicial managers wish to announce that an order of court had been sought and obtained on 1 december 2016 . Swissco holdings - order of court had been sought and obtained on 1 december 2016 authorising them to make payment of wages to crew of certain vessels . Swissco holdings - an order of court had been sought and obtained on 1 december 2016 authorising them to make payment of wages to crew of certain vessels and service asset employed by sopl .Swissco holdings - interim judicial managers were directed to file a report on 5 jan 2017 updating court and creditors of status of company and sopl.  Full Article

Swissco says Singapore High Court granted orders putting co into interim judicial management
Friday, 25 Nov 2016 03:34am EST 

Swissco Holdings Ltd : Singapore high court has, today, granted orders putting company into interim judicial management . Swissco holdings - a pre-trial conference of applications by co and sopl to be placed under judicial management is fixed for hearing on 1 dec 2016 .Swissco - messrs ee meng yen angela and purandar janampalli rao, care of ernst & young llp, appointed as joint and several interim judicial managers of co and sopl.  Full Article

Swissco reports qtrly results, to file for interim judicial management
Monday, 14 Nov 2016 10:52am EST 

Swissco Holdings Ltd : qtrly loss after income tax $296 million versus profit $11.2 million . group expects market conditions in oil and gas industry to remain weak in next twelve months . group has reached an impasse with its major lenders . group is unable to get an agreement on the terms of the restructuring plan . qtrly revenue $3.8 million versus $10.4 million . "there is no visibility as to when o&g market conditions will improve" . Has decided to file for an interim judicial management order .Currently seeking legal advice with respect to filing of court documentation, which is expected to take place by end of week or early next week.  Full Article

More From Around the Web

Singapore court approves judicial management for debt-laden Swissco

SINGAPORE, April 21 A Singapore court on Friday approved Swissco Holdings Ltd's application to be placed under judicial management after the debt-burdened rig and vessel charter firm reached an impasse with major lenders last year.