Singapore: President Marine Pte Ltd to be wound up voluntarily

Several resolutions for President Marine Pte Ltd were made during an extraordinary general meeting held on 14 February, according to a notice in the Government Gazette on Friday (21 February).

According to Singapore-based The Grid, a B2B Sales Intelligence platform, the company’s business was in building and repairing tankers and other ocean-going vessels. 

The following resolutions were unanimously resolved during the meeting:

Special Resolutions

• That the Company be wound up as a Members’ Voluntary Liquidation pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.
• That the Liquidators may divide among the contributories in specie or kind the whole or any part of the assets of the Company.
• That the Liquidators be authorised to exercise any or all of the powers provided under Section 144(1)(b), (c), (d), (e), (f) and (g) of the Insolvency, Restructuring and Dissolution Act 2018.

Ordinary Resolutions

• That Goh Yeow Kiang Victor, Khor Boon Hong and Lee Yi Ying, Marie care of Baker Tilly Consultancy (Singapore) Pte Ltd, 600 North Bridge Road, #05-01 Parkview Square, Singapore 188778, be appointed joint and several Liquidators for the purpose of such liquidation and that the Liquidators be indemnified by the Company against all costs, charges, losses, expenses and liabilities incurred or sustained by them in the execution and discharge of their duties.
• That the remuneration of the Liquidators, in respect of themselves, their partners and staff, be fixed on a time basis at rates normally charged for such an assignment plus the necessary disbursements.

Photo credit: Benjamin Child
Published: 24 February, 2025