Link: https://links.sgx.com/1.0.0/corporate-announcements/02VECES9SBRXD85H/125a787dbe1ebae2eb915979f9daa2207678d6fa0a9b4d9b5dea220d3dbba367

Summary:

• Uni-Asia’s special purpose company (65.1% owned) will acquire the 57,836-DWT eco-bulk carrier M/V Trident Star from Polaris Bulkship S.A. for US$18.4 million, following Polaris’s exercise of a purchase option after its charter-back period ends.

• The purchase is funded 40% by equity (spread among the JV partners, with Uni-Asia investing US$5.31M) and 60% via a sale-and-leaseback from independent financiers, aiming to preserve cash and optimize returns.

• The vessel, built in 2015, is valued at US$18.25–20.25M and features low-fuel eco tech, fitting Uni-Asia’s environmental and operational priorities.

• The deal increases Uni-Asia’s economic stake in the vessel to 65.1% (from 18%), giving majority control, greater resale flexibility, and new recurring income from management fees.

• Financial effect: Adoption of the JV structure is expected to sustain balance sheet strength, and terms are confirmed by an independent adviser and the audit committee as fair and non-prejudicial to minority shareholders.

• Completion is subject to shareholder approval at an upcoming meeting; all contracts and valuation reports are available for inspection at Uni-Asia’s Singapore office.

• The transaction aligns with Uni-Asia’s fleet expansion, cash efficiency, and operational leverage in the competitive bulker segment.