Singapore: Jason Marine, the Singaporean marine electronics systems integrator and support services provider, is going through a big restructuring in a bid to turn its business around.
The group is reorganising its existing operations into three core units – marine, offshore oil and gas and China – “to sharpen its business focus and drive revenues”, the company noted in a release.
On Monday the locally-listed company, founded in 1976, established a wholly-owned subsidiary, known as Jason Energy, which will focus on the offshore oil and gas business. Its marine business will remain under wholly-owned Jason Electronics. Another of its wholly-owned subsidiaries, Jason Asia, now focus on the Chinese market.
“This reshaping of Jason Marine will ensure that we stay relevant in this tough operating environment. With dedicated sales and technical teams for each unit, we hope this will allow us to be more nimble in extending our market reach and ensure dedicated service to our customers,” said Joseph Foo, Jason Marine’s executive chairman.
The group’s immediate goal is to return to profitability. [19/02/13]