Indian group Mercator Ltd is to exit its Singapore bulker subsidiary, according to a TV report.
CNBC-TV18 cited sources as saying banks are likely to take over the assets of loss-making Mercator Lines (Singapore).
The move follows the resignation of Mercator Lines (Singapore) CEO Shalabh Mittal from the board of the Indian parent last month. He is remaining in charge of the Singapore unit, however.
The
