Uni-Asia To Reduce Ownership In Subsidiary

Uni-Asia Holdings has announced a proposed a reduction of ownership in Fortuna Containership, a wholly-owned subsidiary, from 100 percent to 50 percent.

Fortuna Containership, a Panama-incorporated company, was acquired by the group as a ship owning subsidiary for the purpose of acquiring a 3,500 TEU (twenty-foot equivalent unit) second hand containership which was delivered on 30 June 2015.

The group has gone into an agreement with an unrelated corporate co-investor to increase the paid-up capital of Fortuna Containership from US$10,000 to US$2 million, of which US$1 million will be contributed by the co-investor in cash and US$990,000 by the group.

The proposed reduction of the group’s interest in Fortuna Containership is in accordance with the group’s existing business model where as one of the group’s core investment activities, the group acts as ship investment manager as well as an investor. Where an opportunity arises, the group may solely invest in ships through ship owning companies before inviting other investors to participate.

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