Singapore: Notice of first and final dividend issued for Prosper Marine Pte Ltd

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

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

Name of Company : Prosper Marine Pte. Ltd. (In Liquidation)
Unique Entity No. / Registration No. : 200205509W
Address of Registered Office : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960
Court : High Court of Singapore
Number of Matter : HC/CWU 213/2020
Amount per centum : 100 cents to a dollar of admitted preferential claims, 0.234 cents to a dollar of admitted unsecured claims (rounded to 3 decimal places)
Final and First of otherwise : First and Final Dividend
When payable : Payment processing time of approximately 1 month from the date of publication of Notice of First and Final Dividend
Where payable : First and Final Dividend will be made by interbank transfer to the nominated bank account submitted by the creditor of the company

Manifold Times previously reported on Singapore-based oil-and-chemical waste management player NSL OilChem Waste Management Pte Ltd (NOWM), the environmental services arm of SGX-listed NSL Ltd, filing for a winding up application against Prosper Marine on 24 November 2020. 

Later, Manifold Times reported the approval of the application. NOWM’s move to windup Prosper Marine came after a High Court Judge decision where it won claims in three suits (Suit 1062, Suit 853 and Suit 1048) against the defendant.

Suit 1062 relates to invoices issued by NOWM to Prosper Marine between June 2015 and October 2016 under the 2014 Contracts worth $6,429,105.74 before interest and $7,629,613.70 with interest (calculated up to 23 February 2017).

Suit 853 revolves around the sole issue whether the Prosper Directors are liable in their personal capacity for NOWM’s outstanding invoices. The Judge found the Prosper Directors jointly and severally liable for NOWM’s unpaid invoices, including 18% late payment interest. 

Suit 1048 concerns NOWM’s claim of $261,290.32 for its outstanding charter hire for the period between 27 May and 16 September 2016 as well as damages in respect of Prosper Marine’s breaches of the Charterparty with interest.

Related: Singapore: Liquidators issue notice of intended dividend for Prosper Marine
Related: NSL OilChem Waste Management makes application to wind up Prosper Marine
Related: NSL OilChem Waste Management application to wind up Prosper Marine approved

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