Singapore offshore vessel owner Pacific Radiance has said it is owed $10.1m by rival Swiber Holdings, which has applied to be wound up.

The company said that the money has been classed as “doubtful receivables.”

It also said it had previously served “several letters of demand” to entities related to Swiber for recovery of the money.

Pacific Radiance will “continue to pursue all legal avenues of recovery,” it added.

Singapore's