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Report: Temasek unit weighs stakes in Marco Polo, Ezion Holdings

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Report: Temasek unit weighs stakes in Marco Polo, Ezion Holdings

Heliconia Capital Management Pte. Ltd., a unit of Singaporean wealth fund Temasek Holdings (Pte.) Ltd., is considering whether to buy stakes in shipbuilder Marco Polo Marine and Ezion Holdings, website DealStreetAsia said, citing a report from the Business Times.

According to the report, Heliconia Capital is interested in acquiring the 10.29% stake in Marco Polo held by United Overseas Bank. The shipbuilder reported a net loss of S$309.0 million for the nine months ended June 30, 2017, and said it anticipates a net loss for the full year, the International Business Times said.

Heliconia Capital is also looking into injecting capital in the liftboat-focused Ezion Holdings. Together with Marco Polo, the two are among the first listed companies to emerge from debt restructuring programs amid the prolonged slump that has affected the oil & gas industry and the offshore & marine sector.

Marco Polo and Ezion Holdings have yet to comment, DealStreetAsia said; a Temasek representative said the wealth fund does not play a role in Heliconia's investment decisions.

As of Jan. 31, US$1 was equivalent to S$1.31.