Kim Heng Offshore & Marine incorporates JV company and branch in Taiwan

Singapore

A WHOLLY-OWNED subsidiary of Kim Heng Offshore & Marine Holdings has incorporated a joint venture (JV) company, Bridgewater Marine, in Taiwan, said the company in a filing on Friday.

Its JV partner is a company incorporated in Taiwan and owned by two Taiwanese, who are both unrelated to the directors and the company. The initial paid-up capital of the JV company is NT$1 million (S$47,700) and is 49 per cent-owned by the subsidiary, Kim Heng Marine & Oilfield.