EMS ditches Vietnam repair investment

Singapore: EMS Energy has ditched plans to buy a 24% stake in Nosco-Vinalines Ships Repair Company, and also nixed issuing new shares to fund that purchase.

“Recent weak market conditions and uncertainty associated with the acquisition due to the economic conditions in Vietnam,” were cited by the EMS board as reasons to ditch the investment plan.  [15/11/12]

Back to top button