Way paved for PSL's restructuring

Singapore

PSL Holdings' shareholders have paved the way for the group to diversify into the marine logistics business as part of its efforts to restructure its loss-making business as a provider of logistics and support business to the construction industry.

At an extraordinary general meeting (EGM) on Wednesday, shareholders voted unanimously for PSL's diversification and proposed acquisition of a 49 per cent stake in PT Momentum Indonesia Investama, an Indonesia-based marine logistics company.