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SINGAPORE: Mainboard-listed BH Global Marine has formed a joint venture with two businessmen in Myanmar.
The firm says the two businessmen are experienced in marine and oil & gas engineering, and have a strong network in Myanmar.
The company and its two partners will establish a joint venture firm in Singapore, with a paid up share capital of S$300,000, divided into 300,000 shares.
Each of the partners will subscribe for 35 per cent of the issued share capital and BH Global Marine will take up the remaining 30 per cent.
The transaction will be funded entirely through internal resources.
The joint venture firm will export various marine-related goods and products to Myanmar.
BH Global Marine says the venture is synergistic and beneficial to the company as it will enable the firm to extend its presence in Myanmar.
- CNA/ir
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