Jaya Holdings Ltd Announces Restructuring Of Corporate Structure; Subsidiary Executes Sale And Purchase Agreement

Jaya Holdings Ltd announced the streamlining of the Group's corporate structure, the Company’s wholly owned subsidiary, Jaya Logistics Pte Ltd has been renamed as Jaya Offshore Support Services Pte. Ltd. (JOSS). The following subsidiaries of the Group are directly owned by JOSS JSE Shipping Pte. Ltd; JSE Offshore Shipping Pte. Ltd; Jaya Offshore Services Pte. Ltd. The Company’s wholly owned subsidiary, Java Marine Lines Pte Ltd (JML), has executed a sale and purchase agreement with Batamindo Shipping & Warehousing Pte Ltd (BSW), an associated company of Sembcorp Industries Ltd (Sembcorp) for the disposal of JML’s entire holding of 175,000 ordinary shares (the Sale Shares) or 35% interest in Batamindo Carriers Pte Ltd (Batamindo Carriers) for a total cash consideration of SGD290,850 (the Consideration).