Mooreast Establishes Malaysian Unit for Energy, Marine Services

MT Newswires07-11

Mooreast Holdings (SGX:1V3) disclosed the incorporation of Mooreast Malaysia, a unit formed by its wholly-owned subsidiary, Mooreast Renewables, according to a Wednesday filing on the Singapore Exchange.

The new entity, established on July 4, has an initial capital of 1,000 ringgit, with Mooreast Renewables holding a 70% stake and the remaining 30% owned by an unaffiliated Malaysian individual.

Mooreast Malaysia will focus on mooring systems, marine services, shipbuilding, and engineering consultancy in energy management and clean energy systems.

The incorporation was funded internally and is not expected to materially affect Mooreast's financials for the year ending Dec 31, 2024.

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