Yangzijiang spins off new unit to operate vessel delivery and repair in Nantong
The new subsidiary has a registered capital of US$100 million, funded through the group’s internal resources
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[SINGAPORE] Yangzijiang Shipbuilding has spun off a new unit to build and run facilities in Nantong, China, for delivering large vessels and carrying out ship repair and conversion work.
In a bourse statement on Wednesday (Apr 15), the mainboard-listed company said the new wholly-owned subsidiary, Jiangsu Yangzi Hongda Shipbuilding and Repair, has a registered capital of US$100 million, funded through the group’s “internal resources”.
The incorporation of Jiangsu Yangzi Hongda Shipbuilding and Repair is not expected to have any material impact on the earnings per share and net tangible assets per share of the group for the financial year ending Dec 31, 2026.
Aside from their stakes in the company, none of its directors or controlling shareholders have any direct or indirect interest in the setting up of the new subsidiary.
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