Temasek unit in rescue talks with struggling SG shipping firm Pacific International

Temasek unit in rescue talks with struggling SG shipping firm Pacific International

Photo from Pacific International's website.

Heliconia Capital Management, the investment firm owned by Temasek Holdings, is leading a consortium of investors that is trying to rescue struggling Singaporean container shipping firm Pacific International Lines (PIL).

In a disclosure to the Singapore Exchange, PIL said it has entered into an exclusivity agreement with Heliconia Capital for a term of six months for a possible investment as it announced that the persistent Covid-19 pandemic has worsened the challenges it faces over the past month.

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