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    Pacific Radiance subsidiary froms JV with Duta Maritime

    Company News // November 18, 2015

    Pacific Radiance Ltd has announced that its wholly-owned subsidiary, Alstonia Offshore Pte Ltd, has entered into a joint venture agreement with Duta Marine Sdn Bhd to subscribe for shares in Duta Maritime Alliances Sdn Bhd, a company incorporated in Malaysia.

    The JV company is in the business of shipowning, chartering and the provision of the offshore marine-related services.

    Under the terms of the JVa aAgreement, Alstonia and Duta Maritime will have a 49 per cent and 51 per cent equity interest in the company.

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