Otto Marine incorporates new subsidiary
Principal activity will be ship management and crewing services.
The Board of Directors of Otto Marine Limited announced that its subsidiary Go Marine Ship Management (S) Private Limited has incorporated wholly-owned subsidiary Go Marine Ship Management (M) Sdn. Bhd.
Paid up share capital is RM1,000 and place of incorporation is Malaysia.
The investment is funded through internal resources and is not expected to have any material financial impact on Otto Marine’s consolidated net tangible assets per share or consolidated earnings per share for the current financial year ending 31 December 2012.