Kaixin Industrial, Deltamarin Establish New JV
AVIC International Maritime Holdings Ltd. informed that its subsidiaries Kaixin Industrial Pte. Ltd. and Deltamarin Ltd. incorporated on 14 February 2014 a joint-venture company in Singapore under the name of Delta-AVIC Pte. Ltd.
Delta-AVIC has an initial issued and paid up share capital of S$2.00, comprising two ordinary shares issued at S$1.00 per share. Each of Kaixin Industrial Pte. Ltd. and Deltmarin Ltd. holds one share respectively in Delta-AVIC.
The principal activities of Delta-AVIC are providing engineering, procurement and construction services for the marine and the oil and gas industry. The incorporation of Delta-AVIC is funded through the company’s internal resources.
The company will provide updates as and when there are material developments in relation to the business of Delta-AVIC.
avicintl, February 19, 2014