Bankrupt Singaporean offshore player Swiber Holdings has announced that wholly-owned subsidiary Swiber Capital will not be able to make an SGD 150,000($110,700) coupon payment that is due on 2 August.
The payment is due on a $500,000 Multicurrency Islamic Trust Certificates Issuance Programme.
Swiber Holdings and its subsidiaries went under judicial management in Singapore last August. Since then the company has failed to pay several coupon payments as they have come due.
