Pacific Radiance ups its stake in Australian jv

Singapore: Pacific Radiance’s wholly-owned subsidiary, Crest Offshore Marine, has subscribed an additional 1,999,999 ordinary shares for a total consideration of US$1,999,999 in the share capital of Westsea Radiance, a joint venture company with Westsea Marine, bringing its holding within the joint venture to 50%. The subscription was funded through internal resources.

Westsea Marine is based in Perth, Western Australia and is actively operating in Australian waters to support construction and offshore energy exploration.  [20/06/14]

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