SINGAPORE: Bearish bets on offshore marine services provider Ezra Holdings Ltd jumped close to the highest in a year as the failure of smaller rival Swiber Holdings Ltd heightened concerns for the financial health of companies in the oil industry.
Shares of Singapore-based Ezra plunged to the lowest level on record yesterday after Swiber said last week it filed a winding up petition as the collapse in crude prices led to a slump in its offshore oil and gas businesses. Swiber dropped the liquidation plan late on July 29, and said it planned to restructure and operate under judicial management.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
