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RXS Pacific Radiance News Story

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Brief: Pacific Radiance clarifiies on statements made in the news articles

Aug 1 (Reuters) - Pacific Radiance Ltd. : 
 * Clarifies on statements made in the articles in the business times and the Straits times 
 * clarifies expected provision of US$10.1 million is in respect of trade receivables for services rendered by the co's units to Swiber 
 * Clarifies expected provision of US$10.1 million not due to amounts lent to Swiber's subsidiaries as stated in the articles 
 
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