TROUBLED liftboat operator Ezion has inked a memorandum of agreement to sell its Teras Genesis vessel to Singapore-based Astro Offshore for US$2.25 million in cash. 

MAINBOARD-LISTED offshore and marine service provider Ezion Holdings plans to fight a multimillion-dollar claim against its subsidiary, the board announced late on Friday night.

Submitted By:  Staff Reporter Case Study:  No The decision was made to cut operational costs. Offshore services firm Ezion is jettisoning its stake in two companies...

OFFSHORE and marine service provider Ezion Holdings is divesting two companies by Nov 30 to streamline its assets and cut costs, its board said in a bourse filing on Friday night.

NET loss for Ezion Holdings swelled to US$75.4 million in the third quarter ended Sept 30 from a net loss of US$8.06 million a year ago, it announced in a Singapore Exchange (SGX) filing on Tuesday.

EZION Holdings' conditional debt conversion agreement and conditional option agreement with would-be white knight Yinson Holdings have lapsed, the offshore and marine group announced on Tuesday night.

THE default on US$27.6 million worth of debt, as well as any cross defaults, by a PACC Offshore Services Holdings (POSH) joint venture (JV) has no material impact on offshore and marine group Ezion Holdings, the latter confirmed on Friday.

THE default of a PACC Offshore Services Holdings (POSH) joint venture (JV) on US$27.6 million worth of debt has no material impact on offshore and marine group Ezion Holdings, the latter confirmed in a bourse filing on Friday.

TROUBLED offshore and marine group Ezion Holdings posted losses for the second quarter on Friday, while its potential white knight, Malaysia-listed Yinson Holdings, continues to negotiate with lenders before extending the lifeline. 

DEBT-STRICKEN offshore and marine group Ezion Holdings will likely post losses in the second quarter and half-year to June 30, the board warned on Thursday.