Banks take Triyards as collateral from Ezra

Banks take Triyards as collateral from Ezra

Banks are taking a majority share in Singapore’s offshore fabricator Triyards as collateral.

Local offshore firm and controlling shareholder in Triyards, Ezra Holdings, which has faced considerable financial difficulties recently, has handed a 30.46% stake in Triyards to DBS Bank and a 30.46% stake to OCBC Bank in a share charge arrangement.

Triyards has facilities in Singapore where it is listed, Vietnam and Houston.

Ezra Holdings group ceo and managing director Lionel Lee stepped down from his role on the board of two Ezra companies, EMAS Offshore and Triyards Holdings in May 2015.

In January this year RHB Research said in a note that Ezra’s shares were trading at a price to book value which indicates that the market expectation for the group is bankruptcy.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Related Posts

1 Comment

  1. Avatar
    Queryit
    July 12, 2016 at 1:35 pm

    Sad to hear because my husband’s shareholding is somewhere lost in the abyss of the Triyards acquisition of the Strategic Marine assets. Still waiting for a response to my submission to the Triyards Audit Committee in December 2014 and the EZRA Audit Committee in June 2015, thankfully I have patience and tenacity. Perhaps DBS and OCBC will be able to provide me with the answers I seek……….