New Company for Construction of FPSO Topside Modules Formed in Philippines
Keppel Corporation Ltd’s subsidiary, KS Investments Pte Ltd (“KSI”) and its associated company, Dyna-Mac Holdings Ltd have entered into a shareholders’ agreement and have jointly incorporated a company in the Philippines known as Dyna-Mac Keppel Philippines, Inc. (“DMKP”).
The shareholding interests of KSI and Dyna-Mac in DMKP are 40% and 60% respectively. DMKP will be engaged in the business of fabrication of topside modules for floating, production, storage and offloading (FPSO), and floating, storage and offloading (FSO) vessels in the Philippines.
Following its incorporation, DMKP is now an associated company of Keppel Corporation. Temasek Holdings (Private) Limited is a controlling shareholder of Dyna-Mac.
February 22, 2013