Marco Polo Marine calls for informal meeting of debtholders

Singapore-based integrated marine logistic group Marco Polo Marine has called for an “informal meeting” of noteholders of 5.75% fixed rate notes due October 18th 2016. It said that it had appointed KPMG as an advisor to the group “to conduct an independent business review” of the Group. Marco Polo Marine said that it would be “discussing with the Noteholders the various options in connection with the Notes”.

CEO Sean Lee Yun Feng said that shareholders and potential investors were advised to “exercise caution in trading their shares and Noteholders are advised to exercise caution in trading their Notes”.

Marco Polo reported a net loss of US$5.57m for 9mo financial year.