Edition:
United States

Swissco Holdings Ltd (SWCO.SI)

SWCO.SI on Stock Exchange of Singapore

0.05SGD
--
Change (% chg)

-- (--)
Prev Close
$0.05
Open
--
Day's High
--
Day's Low
--
Volume
--
Avg. Vol
--
52-wk High
$0.20
52-wk Low
$0.04

Latest Key Developments (Source: Significant Developments)

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

Swissco Holdings says Bank lenders have not agreed to restructuring plan
Wednesday, 9 Nov 2016 04:02am EST 

Swissco Holdings Limited : Updates On Discussions With Bank Lenders . Company has presented a restructuring plan to bank lenders . Bank lenders have not agreed to proposed restructuring plan .In circumstances, Board will continue to seek and review all debt restructuring options..  Full Article

Swissco Holdings updates on legal dispute involving Swissco Group
Tuesday, 11 Oct 2016 08:56pm EDT 

Swissco Holdings Ltd : "board is of view that x-drill's claims against company are entirely baseless and without merit" . certain companies within group involved in arbitration claim against tyloo investment group co., ltd. And tyloo offshore s.a. for us$26.1 million . co has been informed that us legal proceedings have been commenced by x-drill against four hong kong incorporated companies within group . swissco offshore has valid grounds for its claim and is fully entitled to refund of two instalments . "board is of view that star excellence has valid grounds for its claim" .arbitration proceedings commenced in hong kong in relation to us$5.2 million claim by co's unit.  Full Article

Swissco updates on meeting with holders of S$100 mln notes due 2018
Tuesday, 11 Oct 2016 08:55pm EDT 

Swissco Holdings Limited : Update On Informal Meeting With Holders Of S$100 mln 5.7% Notes Due 2018 . noteholders informed that company will not be able to pay interest due under terms and conditions of notes on next interest payment date . Announce a suspension in trading of shares of company with effect from today, 12 october 2016 . expects to be able to fund its current operations from its cash, revenue from existing businesses and possible asset disposals .At same time, company and Ernst & Young are actively working on a debt restructuring plan.  Full Article

Swissco updates on MOU in relation to proposed acquisition of VM group
Sunday, 14 Aug 2016 07:48pm EDT 

Swissco Holdings Ltd : Non-binding memorandum of understanding in relation to the proposed acquisition of the VM group ."Parties were unable to reach an agreement on the transaction details".  Full Article

More From Around the Web

UPDATE 1-Singapore's Swissco to file for judicial management due to debt woes

* Offshore oil and gas firms struggling to meet debt payments (Recasts with company confirmation, comment)