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Mooreast to Expand its Mooring, Rigging Solutions for Floating Renewable Energy Sector

May 31, 2022. By News Bureau

Mooreast Holdings Ltd announced plans to expand its mooring and rigging solutions product portfolio and to enhance partnerships with international players in order to extend its value proposition to the global floating offshore renewable energy sector.

The Board of Directors of Mooreast Holdings Ltd. would like to update shareholders on several developments in the Group's business and growth strategies since the release of its financial performance for the year ended 31 December 2021 in February 2022.

Having successfully completed its Initial Public Offering (IPO) on the Singapore Exchange Catalist Board, the Group intends to leverage its listed status and stronger balance sheet to strengthen its foothold within the global floating offshore renewable energy sector. These post-IPO strategies include:

(I) expanding its product portfolio of mooring and rigging solutions to better support renewable energy customers;
(ii) establishing collaborations with international companies involved in the sector; and
(iii) enhancing capabilities within its newly established Yard Division at its new premises at 51 Shipyard Road in Singapore.

Mooreast has been actively developing and marketing a suite of innovative mooring and rigging solutions catering to various markets, with particular focus on floating renewable platforms.

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Initial public offering