Seatrium Divests AmFELS Yard to Karpowership

while capitalizing on surplus assets. The transaction includes a deferred payment component, with SGD 50 million (USD 38.95 million) to be paid one year post-closing. The shipyard's assets were valued at approximately SGD 39 million (USD 30.4 million) as of 30 June 2025, and the sale remains subject to standard closing conditions, including the lease transfer by the Port of Brownsville. Seatrium has committed to completing current projects at this location by year-end 2025. Moving forward, the company plans to enhance its US market presence through engineering and technology centers in Houston and a service facility in Mississippi.