SINGAPORE - Offshore marine giant Ezra Holdings, which filed for Chapter 11 bankruptcy protection in the US over the weekend, requested for a trading suspension in Singapore on Monday (March 20) before markets opened.
Ezra shares traded at an all-time low of 1.1 cents last Wednesday before trading was halted.
Its shipyard-operating unit Triyards Holdings, which had been the only Ezra unit still trading, asked the Singapore Exchange for a trading halt on Monday pending an announcement.
Triyards has guaranteed part of a joint bank facility with Ezra, and could pay up to US$30 million if Ezra defaults.
Ezra has declared estimated assets of between US$500,000 and US$1 billion against estimated liabilities of between US$100 million and US$500 million, US court documents show.
Separately, clinic chain operator Healthway Medical Group also asked SGX for a trading halt on Monday (March 20) before markets opened pending an announcement.
Healthway, one of the largest private clinic chains in Singapore with close to 100 clinics and about 1,200 corporate clients, is facing a cash crunch after losing millions of dollars over the years in questionable loans.
As of mid-March, Healthway's doctors and senior management had not received their February pay.