Neptune Orient Lines incorporates NOL Liner

The move aims to streamline the legal entities holding structure for NOL’s Liner business.

Neptune Orient Lines Limited announced that it has incorporated a new wholly-owned Singapore subsidiary to be known as NOL Liner (Pte.) Ltd.

NOL Liner will be the holding company for NOL’s Liner business, and will own ships and other assets as well as investments relating to the Liner business.

The new Singapore subsidiary has an initial paid up capital of US$50,000 and will be capitalised as appropriate in line with its investments.

NOL said the streamlining is purely a legal exercise and is not expected to affect the normal operations of NOL’s Liner business or its employees and customers.