Swiber Holdings announced that its subsidiary Swiber Offshore Construction (SOCPL) has established a wholly-owned subsidiary in Singapore known as Whitmer Offshore (WOPL). The initial issued share capital of WOPL is US$100.
WOPL is principally engaged in owning and leasing of machinery and equipment for offshore activities.
The new transaction is funded through internal resources and is not expected to have any material financial impact on the consolidated net tangible assets per share and consolidated earnings per share of Swiber or its subsidiaries for the current financial year ending 31 December 2015.
None of the directors or controlling shareholders of Swiber has any interest concerning the transaction, save for their interests arising by way of their shareholdings and directorships.
Image: Swiber Holdings
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