Two wholly-owned subsidiaries of Swiber Holdings have filed for liquidation.
The appointed judicial managers of Swiber Holdings said Swiber International and Equatoriale Services have applied to undergo creditors' voluntary liquidation.
The creditors' voluntary liquidation of the two Swiber subsidiaries commenced on Monday.
The judicial managers said the two subsidiaries are dormant companies and their voluntary liquidations are part of ongoing efforts to streamline the corporate structure and restructure group operations of Swiber Holdings.
THE BUSINESS TIMES
Global Logistic Properties
Global Logistic Properties (GLP) yesterday provided an update on a strategic review it announced earlier, emphasising that non-binding proposals which may or may not lead to a takeover have been received and that it is evaluating them.
GLP said it remains in discussions with parties who submitted these proposals and who have also started due diligence on the company.
It also reiterated that all the terms of proposals received (including price) are non-binding and there is no certainty that any definitive transaction will materialise.
SME sentiment improving: Survey
Sentiment among small and medium-sized enterprises (SMEs) here has improved slightly even though the outlook for sales and profits is still sluggish, according to a survey out yesterday.
The more sanguine mood generated a reading of 50.4 on a quarterly index compiled by the Singapore Business Federation and DP Information Group.
This was up 0.6 point, or 1.2 per cent, from the previous survey and indicates that SMEs are expecting some growth in the next six months.
More than 3,600 SMEs were surveyed in January and last month for the index, which measured sentiment about the April to September period.
The outlook for all seven industry sectors improved, even if some gains were marginal.
The index showed that turnover and profits are both expected to contract over the next six months. However, the rate of contraction is slowing.