The Board of Directors of ASL Marine Holdings Ltd. announced the incorporation of a wholly-owned subsidiary, Intan OSV Pte. Ltd. (“IOSV”) in Singapore.
IOSV will be principally involved in ship management and ship agency services. It has an issued and paid-up share capital of S$50,000 comprising 50,000 ordinary shares.
The investment in IOSV is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the Company for the financial year ending 30 June 2013.
None of the Directors or controlling shareholders of the Company has any interest, direct or indirect, in the above investment other than through their shareholdings in the Company.
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Source: ASL Marine, September 13, 2012