Swiber sees claims jump to $268m

The company logo of oil and gas services firm Swiber Holdings is seen on its building in Singapore on Aug 8, 2016.
The company logo of oil and gas services firm Swiber Holdings is seen on its building in Singapore on Aug 8, 2016. PHOTO: AFP

SINGAPORE - Oil services firm Swiber Holdings, grappling to survive under its debt load, said claims on it have jumped to US$197 million (S$268 milion) as of Aug 25 from US$135.9 million a week ago (Aug 18).

"The company is currently seeking legal advice on the above claims," Swiber said in a filing to the Singapore Exchange late on Friday night (Aug 26).

Separately on Friday, it announced it had obtained a three-month extension of time till Nov 14 to announce its unaudited second quarter results for the period ended June 30, 2016.

This is to give its interim judicial managers time to review the financial affairs of the group company including the status of projects, cashflow positions and litigation matters.

Swiber's application to place itself under judicial management will be heard at 10 am on Oct 6 at Court 4A of the Supreme Court.