Nusantara Orchid will start with an initial paid-up capital of $50,000, divided into 50,000 shares with a par value of $1 each.
PSL Energy and Lianson Fleet will each hold a 45 per cent stake representing $22,500, while Emstraits Navigation will control the remaining 10 per cent share worth $5,000.
Under the pact, the board will consist of five members, with PSL Energy and Lianson Fleet appointing two members each, and Emstraits Navigation nominating one. PSL Energy intends to fund its equity contribution using existing working capital.
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