SINGAPORE (March 27): Nam Cheong, the shipbuilder of offshore support vessels (OSV), has announced that its 50-50 joint venture (JV) with integrated marine logistics group Marco Polo Marine, Marco Polo Offshore (IV) has incorporated a new wholly-owned subsidiary in Malaysia, SK Marco Polo.

SK Marco Polo is a private limited liability company incorporated under the Malaysia Companies Act 1965, with an issued and paid-up capital of RM 2 (63 cents).

In a Monday announced filed to the SGX after market close, Nam Cheong says the investment was funded from its internal resources.

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