huge debts carried by Singapore-listed offshore firms, page-41

To paraphrase Ben Graham you have to be both brave and correct. I would say one without the other is worse than useless.
The brave tyro is a dangerous beast - for evidence check out how many Warren Buffetts there are in the SGH and ARI threads. As far as I know the real Warren was not among them.
I am not bearish or bullish I don't know. If I had to bet it would be that MRM will survive - that's a balanced view. Your directors don't know either and they should be doing more than hoping for the best at this point in my opinion.