Sinwa earmarks cash for expansion

 

Singapore: Despite announcing earlier in the day that it anticipates to be making losses both in the third quarter and for the first nine months as a whole shipping supplier Sinwa said yesterday that part of its S$15.4m rights issue would go on expansion. The company said S$1.35m would be spent from the rights issue on acquisitions and joint ventures and purchase of additional offshore vessels.  [09/11/12]
 

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