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Ezion suffers from delay in rescue plan

An unexpected delay in injection of funds from white knight Yinson Holdings and limited financing options meant Ezion could not secure the required funding for the planned deployment of its assets. This meant it missed out on jobs, exacerbating its problems

The group also had to dump assets in a weak market and cut rates as it struggled to keep afloat and had to make an impairment of $303.5m

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