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Will banks back Ezra in JV 'writedown'?
Players agree that Ezra, in its hunger for growth, may have miscalculated the timing or financial exposure of entry into top-end of subsea business.
THE market is split over whether Ezra Holdings can manage to garner the required financial backing to pull through the crisis emerging from a potential US$170 million writedown tied to its subsea joint venture (JV). Prior to the announced writedown, observers had pointed to possible discussions being held to pull in a new investor for the JV, Emas Chiyoda Subsea (ECS). But the massive impairment has raised doubts over the viability of the JV.
http://www.businesstimes.com.sg/companie...-writedown
Players agree that Ezra, in its hunger for growth, may have miscalculated the timing or financial exposure of entry into top-end of subsea business.
THE market is split over whether Ezra Holdings can manage to garner the required financial backing to pull through the crisis emerging from a potential US$170 million writedown tied to its subsea joint venture (JV). Prior to the announced writedown, observers had pointed to possible discussions being held to pull in a new investor for the JV, Emas Chiyoda Subsea (ECS). But the massive impairment has raised doubts over the viability of the JV.
http://www.businesstimes.com.sg/companie...-writedown