Vallianz says Swiber developments have impact on business but ‘situation is manageable’

SINGAPORE (Aug 1): Vessel charterer Vallianz revealed that as at end March it had trade receivables and other receivables owing from Swiber entities amounting to US$61.9 million ($83 million).

But Vallianz also had trade payables and other payables owing to Swiber entities of US$58.7 million.

The group went on to assure shareholders that while the recent developments at Swiber will have an impact to the group’s business, “the board is of the view that the situation is manageable and its operations are continuing as usual”, it says in a filing to the exchange this morning.

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