Go Marine Sells Seven Vessels

Otto Marine’s 90 per cent owned subsidiary, Go Marine Group has entered into a Memorandum of Agreement dated 31st December 2013 to sell seven vessels known as GO 4 IT, GO Puriya, GO Shaula, Piparn, Yikara, Minotaur and Centaur to RSOV Marine for US$10 million. 
 
Mr Yaw Chee Siew, the company’s executive chairman and controlling shareholder, owns a 
29 per cent interest in the issued and paid-up share capital of the buyer, with the remainder held by unrelated third party