Gaylin reveals marine supply arm

Gaylin Marine Supply has share capital of $1.

According to a release, the Board of Directors of Gaylin Holdings Limited announced that the Company has incorporated a wholly-owned subsidiary in Singapore known as Gaylin Marine Supply Pte. Ltd. with an initial issued and paid up share capital of S$1.00.

The principal activities of Gaylin Marine Supply Pte. Ltd. are as an investment holding company, on general wholesale trade (including general importers and exporters), and on shipping chandlers’ supplies/services/general merchandise.

The incorporation of the above wholly-owned subsidiary is not expected to have any material impact on the earnings per share or the net-tangible assets per share of the Company for the current financial year ending 31 March 2013.