ST Marine forms new JV with Hovertransport
Singapore Technologies Engineering has announced plans to form joint venture Hovertrans Solutions, through its marine arm.
This was an agreement signed with Hovertransport Consultants Ltd and Clearstone Investments LLC. ST Marine will hold 51% stake in Hovertrans Solutions; while the remaining 49% shareholding will be held equally between Hovertransport and Clearstone. Upon its incorporation, Hovertrans Solutions will become a subsidiary of ST Marine.
ST Marine paid US$600,000 (about $843,000) to acquire the intellectual property rights and other business considerations with another US$600,000 as working capital into the new Hovertrans Solutions.
Hovertrans Solutions seeks to exploit the use of hoverbarges for heavy lift in difficult terrain in the global oil and gas, and specialist transportation industries.
The set up of Hovertrans Solutions is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.
Over the last four decades, the government of Singapore and its people have built a city that is known around the world as being very clean, safe and a wholesome place to live and raise a family.
Predicting the future can be a notoriously tricky business.
Patricia Pascuzzo explores the many benefits of using 'strategic conversation' and scenario analysis to develop successful portfolio strategies.
Garry Hawker examines some of the latest thinking around risk factors, 'return drivers' and whether they are a more effective means of diversification versus an asset class approach.
Add your comment