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Offshore crisis hits Singapore companies yet again

Ezion, another one of Singapore's offshore companies, has filed for insolvency, and trading of the company's shares has been suspended. Shipping service company Marco Polo's shares have been suspended since May, and the company's latest interim report does not bode well for the future.

Photo: /ritzau/AP/Wong Maye/

"May God be with you," writes Ezion CEO Chew Thiam Keng in his letter to the company's shareholders, leaving no doubts about the severity of the news.

If the situation worsens, significant impairments may be needed"

Ezion in its interim report

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