31 Oct '16, 5am

Singapore considers measures to help struggling marine sector: SINGAPORE, Oct 31 (Reuters) - The Singapore go...

SINGAPORE Oct 31 The Singapore government is considering whether to help the city-state's marine and offshore engineering (M&OE) sector, which is facing a prolonged downturn due to the slump in the oil market, the trade and industry minister said on Monday. "The government is studying, in consultation with the M&OE industry and financial institutions, the need for measures for the sector," S. Iswaran said in a speech. "However, while the government will endeavour to render assistance where appropriate, it cannot be a panacea." He did not elaborate what future steps might be, but said companies can also tap on measures that are already in place, such as government-backed loans that help small businesses deal with cash flow concerns and financing needs. The government is also investing S$107 million ($77 million) to help develop a new research centre for the industry, he sai...

Full article: http://www.reuters.com/article/singapore-economy-marine-i...

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Singapore Considers Measures to Help Struggling Marine Sector

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via @ShipsandPorts

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