ENERGY & OFFSHORE | Staff Reporter, Singapore

Swiber granted 6-month extension to release financial results

The new deadline is set on May 6, 2017.

Swiber Holdings' request to extend announcement of its second and third quarter financial results for the periods ended 30 June 2016 and 30 September for up to six months until May 6,2016 has been approved by SGX-ST.

Swiber applied to SGX-ST on 14 November 2016 for the Extension based on the following reasons:

(a) since Swiber was placed under judicial management on 6 October 2016, the judicial managers of the firm have been engaging with creditors, potential investors
and other stakeholders, identifying and safeguarding property and assets, working to realise and dispose such assets, negotiating on ongoing projects, managing litigation matters and mapping out proposals for a restructured Group; and

(b) with regard to the firm's finances, the judicial managers of the Company are still in the process of reconciling significant intercompany balances and accounts with various parties, and will need more time to review and understand the financial affairs of the group.

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