Gaylin Holdings has incorporated a wholly-owned subsidiary in Singapore known as Lv Yang (Tianjin) Offshore Equipment. The new company will be involved in the supply of rigging and lifting equipment and provision of related services. 

 
Furthermore, Gaylin has moved to buy out the same company’s Chinese business based in Tianjin and is keen to tie up the deal before the end of April and is willing to pay in the region of S$3m for the acquisition. Funding for the takeover is coming from the proceeds from Gaylin’s Singapore listing last October.

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