Temasek Holdings' deemed interest in Marco Polo Marine pared from 5.23% to 3.24%

SINGAPORE state investor Temasek Holdings notified the Singapore Exchange in a filing that its deemed interest in shares of Marco Polo Marine has changed from 5.23 per cent to 3.24 per cent.

This is due to the disposal of 70 million shares by Pavilion Capital Holdings, an indirect subsidiary of Temasek, in an off-market transaction for the sum of S$4.13 million.

Temasek's deemed interest via Pavilion Capital Holdings was pared from 4.829 per cent to 2.84 per cent currently. Temasek has another 0.40 per cent of deemed interest via DBS Holdings.

UOB announced earlier in February that it has disposed of its entire 10.29 per cent interest, comprising about 362.2 million shares, in Marco Polo Marine at a price of S$0.035 per share.

The Business Times had earlier reported that Heliconia Capital, a Temasek Holdings-funded investment firm, was eyeing UOB's 10.29 per cent stake in Marco Polo.