Marco Polo appoints adviser for business review, to meet noteholders

Marco Polo Marine

07/09/2016 15:07

SINGAPORE, Sept 7 (Reuters) - Singapore's Marco Polo Marine 
Ltd  MAPM.SI , whose business includes building and chartering 
ships, said it has appointed KPMG Services as an adviser to 
conduct an independent business review of the company. 
    The company, which has S$50 million ($37.19 million) worth 
of notes maturing on Oct. 18, said it would hold an informal 
meeting with holders of the notes on Sept. 13 to present KPMG's 
review and discuss various options in connection with the notes. 
    Marco Polo is one of several companies in Singapore's 
offshore and marine sector whose financial results have been hit 
by the slump in oil prices. 
    In July, oilfield services firm Swiber Holdings  SWBR.SI  
applied to place itself under judicial management, after 
initially filing for liquidation, becoming the largest local 
company to fall victim to the slump in oil prices.  urn:newsml:reuters.com:*:nL4N1AF5J6 
($1 = 1.3444 Singapore dollars) 
 
 (Reporting by Aradhana Aravindan; editing by Susan Thomas) 
 ((aradhana.aravindan@thomsonreuters.com; +65 6403 5659; Reuters 
Messaging: aradhana.aravindan.thomsonreuters.com@reuters.net)) 
 
Keywords: MARCO POLO STRATEGIC REVIEW/