The Singapore government’s investment company Temasek Holdings is remaining tight-lipped on market talk that it may take a stake in embattled liner operator Pacific International Lines (PIL).
Privately held PIL, owned by the family of MD Teo Siong Seng, has admitted to being under financial strain amid the Covid-19 pandemic.
PIL is understood to have fallen behind on charterhire payments to its tonnage providers, which include Japanese ship owners. In recent months, PIL has taken steps to improve...
https://container-news.com/singaporean-state-investment-firm-temasek-mum-on-pil-bailout/