Technics Offshore Engineering has a new subsidiary

Principal activities will be provision of technical services in the Oil & Gas industry and provision of engineering services and fabrication of equipment.

The Board of Directors of Technics Oil & Gas Limited announced that its wholly-owned subsidiary Technics Offshore Engineering Pte Ltd has incorporated a wholly-owned subsidiary in V Offshore Engineering Pte Ltd.

Issued and paid-up capital is S$75, with shares 100% owned held by TOE by way of subscription of 75 ordinary shares.

According to the announcement, the rational for the investment is to expand the group’s businesses into the growing Oil & Gas and Marine market which is currently at the uptrend.

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