SINGAPORE: Singapore oilfield services firm Swiber Holdings Ltd filed for liquidation facing hundreds of million of dollars in debt and a decline in orders, becoming the biggest local name to fall victim to the slump in oil prices.
Shares in other oil and gas-related companies dropped on the news, with the sector hard hit by a combination of weak oil prices, tumbling charter rates and clients either delaying or cancelling projects.
Already a subscriber? Log in
5.5 PAYDAY OFFER: 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
