Seatrium Completes Divestment of Crescent Yard in Singapore

MT Newswires

03/12

Seatrium (SGX:5E2) completed the divestment of Crescent Yard in Singapore on Wednesday, according to a same-day filing with the Singapore Exchange.

Shares of the provider of specialized engineering solutions for the global offshore, marine, and energy sectors were down under 1% in Thursday trading.

Last month, Seatrium disclosed that it is selling Crescent Yard for SG$12.5 million in cash, after Mooreast Holdings exercised a purchase option in June 2024.

The divestment, along with that of other non-core assets, is expected to deliver the company over SG$50 million in annualized cost savings.

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