Corporate digest

Marco Polo Marine

A UNIT of integrated marine logistics company Marco Polo Marine has incorporated a joint venture (JV) company with Taiwan company Shengfan Co Ltd to expand its offshore and marine business into Taiwan.

The indirect wholly-owned subsidiary, Marco Polo Offshore, will take a 49 per cent stake in the JV company while Shengfan will take a 51 per cent share. The initial paid-up capital of the company is NT$42 million (S$2.1 million).