Sembawang establishes three subsidiaries in Singapore

Sembawang Shipyard Pte Ltd. has signed a shareholders agreement to establish three subsidiaries in Singapore.

Offshore staff

SINGAPORESembawang Shipyard Pte Ltd. (SSPL) has signed a shareholders agreement to establish three subsidiaries in Singapore.

The subsidiaries are Semb-Eco Pte. Ltd., an investment holding company; Semb-Eco R&D Pte. Ltd., which will handle research and development and holding of patents; and Semb-Eco Technology Pte. Ltd., which will be responsible for the manufacturing and commercialization of patents.

SSPL, a Sembcorp Marine Ltd. subsidiary, will hold 55% of the equity interest in Semb-Eco Pte. Ltd., which, in turn, owns 100% of the equity interest in both Semb-Eco R&D and Semb-Eco Technology.

The establishment of these subsidiaries is to continue to co-develop, manufacture, and sell green products with its strategic partner, Ecospec Global Technology Pte. Ltd., to the marine, offshore, and onshore industries.

09/22/2014

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