, Columnist
Singapore Stocks Are Floating on Foam
Distress at oil-services companies is deepening. Something's got to give.
This article is for subscribers only.
Read the shipping and offshore oil industry news in Singapore and you'd be forgiven for imagining the country's stock market must also be in the doldrums.
A string of restructuring and bankruptcy proceedings was capped last week with reports that distress at oil-services company Ezra Holdings Ltd. has deepened. Ezion Holdings Ltd., one of the biggest companies in the sector, also recently posted its worst loss since the Asian financial crisis.