Several resolutions for Vasi Shipping Pte Ltd, a small Singapore-based containership operator, were made during an extraordinary general meeting held on 28 April at 2pm, according to a notice in the Government Gazette on Monday (5 May).

The following resolutions were duly passed during the meeting:

Special Resolution

That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.

Ordinary Resolution

That Mr. Abuthahir Abdul Gafoor and Ms. Yessica Budiman care of AAG Corporate Advisory Pte Ltd, 11 Collyer Quay, #07-02 The Arcade, Singapore 049317, be appointed as joint and several Liquidators of the Company for the purposes of winding up the affairs of the Company.

According to Lynerlytica on 10 April, Vasi Shipping filed for bankruptcy and has an outstanding debt of $19 million owed to creditors. 

The company was established in Singapore in January 2012 and operated primarily in the Southeast Asia, Bay of Bengal, India subcontinent, Red Sea and Middle East Gulf routes. 

Vasi has stopped operating any ships since early March 2025.

Photo credit: Benjamin Child
Published: 6 May, 2025

A notice was published in the Government Gazette on Friday (25 April), regarding the first and final dividend to preferential creditors of East Marine Pte Ltd.

The following are details of the notice of dividend of the company:

Name of Company : East Marine Pte Ltd (In Creditors’ Voluntary Liquidation)
Singapore UEN : 198601345E
Address of Registered Office : 8 Wilkie Road #03-08 Wilkie Edge, Singapore 228095
Amount per centum : 100.00 per centum of all admitted preferential claims pursuant to Section 203(1)(d), (e), (g) and (h) of the Insolvency, Restructuring and Dissolution Act 2018
First and final or otherwise : First and final
When payable : 25 April 2025 onwards
Where payable : Interbank transfer (all bank charges shall be borne by the recipient of the preferential dividend payment)

Related: Singapore: East Marine Pte Ltd to be wound up voluntarily

Photo credit: steve pb from Pixabay
Published: 29 April, 2025

The final meeting of members for Kukuh Shipping Pte Ltd, has been scheduled to take place on 26 May, according to the company’s liquidator on a notice posted on Friday (25 April) on the Government Gazette.

The meeting will be held at 9 Raffles Place, #19-20 Republic Plaza Tower 2, Singapore 048619 at 10 am. 

It is being held for the purpose of receiving an account from the liquidator showing the manner in which the winding-up has been conducted and of hearing any explanation that may be given by the liquidator. 

According to SGPBusiness, a business directory for companies registered in Singapore, the company’s principal activity is in shipping, including chartering of ships and boats with crews.

The details of the liquidator are as follows:

Cheng Sam Tai Catherine
Liquidator
c/o Crowe Horwath First Trust Corporate Advisory Pte. Ltd.
9 Raffles Place, #19-20 Republic Plaza Tower 2, Singapore 048619

Photo credit: Jo_Johnston from Pixabay
Published: 28 April, 2025