Michael Kum becomes Atlantic Navigation chairman after takeover

Singapore

OFFSHORE chartering and property businessman Michael Kum has become the non-executive chairman of Atlantic Navigation Holdings following his takeover of the company, according to filings with the Singapore Exchange (SGX) on Monday.

Mr Kum, who ran offshore chartering business Miclyn Express Offshore before it was sold to private equity and is also the chairman of hotel property group M&L Hospitality, acquired a 50.2 per cent stake in Atlantic Navigation in early December via a placement of Atlantic Navigation shares to his investment vehicle Saeed Investment. Atlantic Navigation provides ship repair, fabrication and other marine services.