Triyards Holdings has secured a potential lifeline from Singapore-based fund manager Ferrell Asset Management.
The two companies have entered into an exclusivity agreement (EA) with an eye to a potential corporate restructuring of the struggling shipbuilder.
As part of the agreement Ferrell Vanguard Fund SPC will extend a short-term loan agreement of up to $5m to Triyards for 180 days at 4% per annum.
