Asset Acquisitions and Disposals::ESTABLISHMENT OF NEW SUBSIDIARY IN SOUTH KOREA TO PROMOTE SHIP-RELATED SERVICES

Issuer & Securities

Issuer/ Manager
UNI-ASIA HOLDINGS LIMITED
Securities
UNI-ASIA HOLDINGS LIMITED - KYG9241B1169 - AYF
Stapled Security
No

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
08-Jun-2015 18:01:03
Status
New
Announcement Sub Title
ESTABLISHMENT OF NEW SUBSIDIARY IN SOUTH KOREA TO PROMOTE SHIP-RELATED SERVICES
Announcement Reference
SG150608OTHRVB2P
Submitted By (Co./ Ind. Name)
Lim Kai Ching
Designation
Group CFO
Effective Date and Time of the event
08/06/2015 17:00:00
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of Uni-Asia Holdings Limited (the "Company") is pleased to announce that the Company has established a new wholly owned subsidiary in South Korea known as Uni Ships and Management Korea Ltd. ("Uni Ships Korea") to promote the Company's ship-related services in South Korea.

1. Uni Ships and Management Korea Ltd. Uni Ships Korea completed the business registration to operate its business on 3 June 2015. Prior to this, Uni Ships Korea was registered on 29 April 2015 in Seoul, South Korea, with paid-up share capital of Korean Won 100,000,000. The paid-up share capital of Uni Ships Korea was internally funded and has been paid in cash in full on 28 April 2015. All the shares issued by Uni Ships Korea are owned by Uni Ships and Management Limited ("Uni Ships"), which is a wholly owned subsidiary of the Company. The directors of Uni Ships Korea are Mr. Michio Tanamoto, Mr. Masaki Fukumori and Mr. Antonio Park. Mr. Michio Tanamoto and Mr. Masaki Fukumori are Directors of the Company and Mr. Antonio Park will be appointed as General Manager of Uni Ships Korea.

2. Chapter 10 of the SGX-ST Listing Manual. The establishment of Uni Ships Korea is for the purpose of promoting the Company's ship-related services in South Korea which are in the ordinary course of the Company's business. In view of the foregoing, the establishment of Uni Ships Korea would not constitute a "transaction" for the purpose of Chapter 10 of the Singapore Exchange Securities Trading Limited Listing Manual.

3. Interests of Directors and Controlling Shareholders. Save as disclosed herein, none of the Directors and controlling shareholders of the Company has any interest, direct or indirect, in the establishment of Uni Ships Korea.


4. Details of Uni Ships and Management Korea Ltd. Contact details of Uni Ships Korea are set out as below:

Address : 27 Floor, West Tower, Center 1 Building, 26 Euljiro 5 Gil, Jung-Gu, Seoul 100-210, Korea
Telephone : +822 60308722
Person-in-charge : Mr. Antonio Park, General Manager, Uni Ships and Management Korea Ltd.

Attachments

Uni-Asia-2015-06-08 - Establishment of New Subsidiary in South Korea.pdf
Total size =42K