A US$600 million (S$809 million) lifeline has been offered by Temasek unit Heliconia Capital Management to troubled Pacific International Lines (PIL).
This paves the way for a rescue of the world's 10th-largest container shipping line, now facing "tremendous strain on its liquidity" amid the pandemic-induced recession.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you