Chitchat Rickmer Maritime Almost Bankrupt and Its BOD is Lee Hsien Yang wife Lee Suat

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An honorable member of the Coffee Shop Has Just Posted the Following:

SINGAPORE (BLOOMBERG) - A Singapore-listed shipping trust that operates container ships is asking creditors for leniency on about US$253 million (S$344.8 million) of debt, in the latest sign of debt woes in the industry and in the city-state.

Rickmers Maritime won't be able to repay US$179.7 million of bonds due in March 2017 and the interest and principal on S$100 million of notes due in May 2017, it said in an investor presentation filed to the Singapore Exchange on Thursday (Sept 15).

http://www.rickmers-maritime.com/board.html

Mrs Lee Suet Fern is an Independent Director of the Trustee-Manager. She was appointed a member of the board of directors in February 2007. She is the Chairman & Managing Partner of Morgan Lewis Stamford LLC (formerly Stamford Law Corporation); her practice focuses on mergers and acquisitions, equity and debt capital markets and corporate finance. Mrs Lee has been involved in many of Singapore's most significant corporate transactions and has been named a leading practitioner in numerous global professional publications.


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