STRATEGIC COLLABORATION BETWEEN RIAU CAPITAL GROUP AND JASPER INVESTMENTS LIMITED BEGINS WITH THE FIRST VESSEL TO DEPLOY ON A PROJECT IN QATAR
STRATEGIC INVESTMENT REINFORCED BY RIAU CAPITAL INVESTMENTS PTE. LTD. IS A DEMONSTRATION OF THEIR COMMITMENT TO COLLABORATION
Riau Capital Band secured his first Platform supply vessel for deployment in Qatar in collaboration with a ship charter and offshore services group Qatar.
Jasper Investments Limited will be appointed as the Owner’s Representative and Exclusive Fleet Manager for Riau Capital Group and projects presented by Riau Capital Group.
Riau Capital Group will invest (through Riau Capital Investments Pte. Ltd.) S$2,000,000 as a sign of commitment to the strategic collaboration.
Bambang Sugeng Ben Kajairi will be provide strategic direction and direction for Jasper Investments Limited as Executive Chairman, Engine of Growth and Investments.
Board independence and diversity will be enhanced by appointing top strategists and opinion leaders as independent directors.
The main areas of interest will be infrastructure, strategic resources and real estate.
SINGAPORE, July 4, 2022 /PRNewswire/ — Jasper Investments Limited (“JIL”), listed on the Singapore Exchange Main Board since 1993, has been appointed as the Owner’s Representative and Exclusive Fleet Manager for the first Platform Supply Vessel to be deployed on Qatar by Riau Capital Group. This deployment is being done in conjunction with a vessel charter and offshore services group operating in the Gulf Cooperation Council (“GCC”) region (“GCC Charterer”). This appointment is the start of a strategic collaboration between JIL and the Riau Capital group previously announced on June 6, 2022; as part of this collaboration, JIL has been named the designated and preferred service and support provider for Riau Capital Group’s projects in the GCC.
Riau Capital Group and JIL are currently considering acquiring more vessels, including platform supply vessels and anchor handling tug supply vessels for deployment on projects in the GCC and elsewhere, including in collaboration with GCC Charterer. If other vessels of this type are acquired by Riau Capital Group, JIL has been assured that it will be offered first preference to act as the owner’s representative and manager of the fleet of these vessels.
JIL also announced today an enhanced strategic investment by Riau Capital Investments Pte. ltd. from a total of $2,000,000 (increased from previous announcement $500,000) through the subscription of shares and warrants, demonstrating its commitment to grow and develop JIL. The shares must be issued at $0.0036 per share, with a premium to the most recent volume-weighted average price of JIL stock prior to the announcement.
In addition, the CEO of Riau Capital, Bambang Sugeng, is personally committed to providing strategic leadership and direction for the expansion and growth of JIL as well as assuming greater operational responsibility. Accordingly, he accepted the position of Executive Chairman following an invitation extended to him by JIL’s Board of Directors (the “Board”). As a sign of faith in JIL’s future, Bambang agreed to convert an advance of approximately $51,000 previously paid to JIL in 2021 on a personal basis.
Bambang said “I am delighted to have been appointed Executive Chairman of JIL. The business has enormous potential in the region, and by working together with shareholders and other stakeholders, I am confident that we will be able to capitalize on the exciting opportunities available to us to develop and expand core business activities, as well as to expand into new and exciting industries“.
In line with JIL’s ongoing commitment to having an independent majority on its Board of Directors as well as its goal of ensuring Board diversity and inclusiveness, three prominent members of the Singapore business community – Mr. Osith Ramanathan, Mr. Denis Goh and M. Bernard Oheach a strategic and thought leader in their own field, have accepted invitations to join JIL as independent directors.
“One of the essential pillars to ensure good corporate governance in a company is to have a strong and independent board of directors. Board diversity strengthens leadership and fosters a sustainable organization. The company is honored and privileged to have Osith, Dennis and Bernard join the company as Independent directors. Each of the new independent directors brings with them a unique set of skills, talents and experience that will enhance the effectiveness of the board, ensuring good governance and better stewardship. This combination of skills, talent, experience and diversity at the board level, coupled with a highly skilled and capable management team under the strategic leadership of Bambang, will deliver better value and returns to shareholders,” said Mr. Rajan GanapathyLead Director and Chairman of the Audit Committee.
JIL’s current core business focuses on the maritime and offshore sectors, particularly the provision of maritime logistics and transportation services to the infrastructure industry. The focus is on the rehabilitation, construction and earthmoving service sectors. JIL aims to offer world-class expertise in all aspects of chartering and operating a variety of vessels and vehicles. The company’s ambition is to consolidate and expand its core shipping and logistics businesses – capitalizing on the recent upturn in activity in the oil and gas industry (in particular, the upstream natural gas sector) and increased demand for infrastructural support and strategic resources such as aggregates, including sand, gravel and stones (particularly, in the North and South East Asia Regions). As a corollary to this, JIL intends to explore and expand its business activities in the strategic resource sector. Given the company’s intention to be deeply involved in the infrastructure, strategic resources and real estate sectors (all of which have a high and continuous need for building materials, supporting infrastructure and logistics support), it is a natural extension of JIL’s business operations. The company will seek shareholder input and approval in due course to expand into these areas.
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SOURCE Riau Capital Group; Jasper Investments Limited