Samudera Shipping Line Increases Investment in Subsidiary

MT Newswires

01/15

Samudera Shipping Line (SGX:S56) increased its investment in Samudera Property via subscription of 39,900 shares for around 3.99 million Emirati dirhams or 100 Emirati dirhams per share, according to a Thursday filing with the Singapore Exchange.

The investment was satisfied fully through the capitalization of part of an intercompany loan provided to finance the subsidiary's acquisition of two office units in Dubai in 2018.

Following the share subscription, the subsidiary's share capital has increased to 4 million Emirati dirhams.

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