Vallianz Reports Normal Operations in Middle East Despite Geopolitical Tensions; Shares Plunge 13%

MT Newswires

03/06

Vallianz (SGX:WPC) said that despite the ongoing geopolitical tensions across the Middle East, the company's operations have not been significantly impacted, with its vessels operating as per normal, according to a Thursday filing with the Singapore Exchange.

Shares of the operator of offshore support vessels and integrated offshore marine solutions slumped nearly 13% in Friday trading.

The company has deployed vessels under charter to customers across various jurisdictions in the Middle East.

Due to the proximity of the conflict in the Persian Gulf, maritime activities are at risk of operational disruptions.

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