It incorporated Sinwa (Thailand) Ltd. (“STL”) in Thailand on 18 June 2014 with a 49% stake held by its wholly-owned subsidiary Sinwa Offshore Pte Ltd.

The remaining 51% is held by two local Thai nationals, as Thailand regulation requires at least 50% of the operating entity to be held by locals.

STL will primarily be engaged in providing Thailand’s buoyant offshore sector with a wide range of offshore support services, ranging from the supply of provisions, stores and spares to logistics and agency support services.

“This Thailand subsidiary will allow us to better serve existing clients, as well as grant us access to potential clients,” said Mr. Bruce Rann, Group CEO of Sinwa.

The JV will allow Sinwa to increase its supplies to Sodexo, one of Sinwa’s largest clients.

Sodexo is a global leader in food catering services which has been growing rapidly in the Gulf of Thailand.

“We have already identified several business opportunities in Thailand, and we are in the process of negotiation,” he added.

To strengthen its regional foothold, the Group’s wholly-owned subsidiary, Sinwa Marine Pte Ltd, had on 16 June 2014 incorporated three wholly-owned subsidiaries in Singapore to expand its business in key Chinese port cities – Qingdao, Dalian and Tianjin.

Sinwa is also beefing up its tugboat logistics operations.

It incorporated another subsidiary, SB Barge Pte. Ltd, to operate barges, tugboats and lighters, as well as provide transportation support services.

As the Group’s core operations require the hiring of barges, tugboats and lighters from other ship operators, its operating costs will be reduced by bring its transportation logistics in-house.

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