Sinwa eyes buoyant offshore sector - establishes subsidiary in ThailandCompany News // July 8, 2014
Sinwa Limited has announced that its wholly-owned subsidiary, Sinwa Offshore Pte Ltd (SOPL) has incorporated Sinwa (Thailand) Ltd (STL) in Thailand.
"STL will primarily be engaged in providing Thailandís 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," said the company.
SOPL holds 49 per cent of the equity in STL, while the remainder is held by two local Thai nationals, as per Thailand regulations.
Commenting on the groupís venture into Thailand, Bruce Rann, Group CEO
of Sinwa, said: "We are excited to announce our entry into Thailandís promising offshore sector. Backed by robust oil prices, Thailand has witnessed heightened level of offshore exploration and production activities.
"Our newly incorporated subsidiary in Thailand will be able to seize this great opportunity to grow our network and exposure to the offshore sector."