CATALIST-LISTED Atlantic Navigation Holdings has extended its contract with a Middle Eastern National Oil Company (NOC) for its lift-boat service by another year to May 2020 from end-June this year, the company announced on Thursday.

ATLANTIC Navigation's management said it is reasonably confident the group can pay its debts on time, in response to a Singapore Exchange query on cashflow amid its net current liability of US$25.9 million as at end-2018.

ATLANTIC Navigation's management said it is reasonably confident the group can pay its debts on time, in response to a Singapore Exchange query on cashflow in relation to its net current liability of US$25.9 million as at end-2018.

ATLANTIC Navigation is seeking a three-month extension to meet the free float requirement of the Singapore Exchange amid "challenging market conditions" and the timing of release for its financial results.

ATLANTIC Navigation is seeking a second extension to meet the free float requirement of the Singapore Exchange after its public float fell below 10 per cent on Dec 21, 2018.

ATLANTIC Navigation Holdings' chief financial officer (CFO) Tong Choo Cherng will step down on Jan 31 to pursue other personal interests, said the firm on Wednesday.