Mooreast Holdings Announces Strategic Asset Divestment and Major Expansion for Offshore Wind Market

Key Highlights

• Mooreast Holdings Ltd. (SGX-listed) has granted an option to dispose of its leasehold property at 51 Shipyard Road, Singapore for S\$29.7 million.
• Net proceeds from the disposal are expected to be S\$19.2 million, after settling outstanding loans and estimated transaction expenses.
• The proceeds will be redeployed to accelerate expansion and operational build-out at the Group’s newly acquired facility at 60 Shipyard Crescent.
• The newly acquired facility is 98,919 sqm (approx. 1.1 million sqft), significantly larger than the divested property, and will support fabrication of subsea foundations and serve as a logistics hub.
• The transaction represents a significant gain: the sale price exceeds both the independent open market valuation (S\$28.0 million) and the book value of the property and plant & machinery (S\$15.4 million).
• Gain on disposal: Approximately S\$14.3 million.
• Assuming completion as at 31 December 2025, the Group’s net tangible assets per share would rise from 8.7 Singapore cents to 14.6 Singapore cents, and earnings per share from 1.41 Singapore cents to 7.26 Singapore cents.
• The option remains valid until 13 July 2026, and is subject to approval by JTC Corporation (as lessor) and Mooreast shareholders at an extraordinary general meeting.
• The move is part of Mooreast’s strategic transformation to focus on the offshore renewable energy market, particularly floating offshore wind projects.

Details of the Transaction

Mooreast Asia Pte. Ltd. (MAPL), a wholly-owned subsidiary, granted an option to HLMG-Nuform System Pte. Ltd. for the sale of 51 Shipyard Road, including land lots and foreshore land under JTC leases. The property was acquired in September 2021 for S\$18.5 million and is now being divested for S\$29.7 million, reflecting a substantial capital gain.

The sale price was negotiated on a willing-buyer, willing-seller basis, and notably exceeds the independent market valuation as of April 2026. The transaction also includes certain agreed furniture, fittings, machinery, and equipment located on the property.

MAPL has received an option fee of S\$297,000. The disposal is contingent on regulatory and shareholder approvals. If completed, Mooreast will unlock significant capital for its next phase of growth.

Strategic Implications

The proceeds from the sale will be directed to Mooreast’s new facility at 60 Shipyard Crescent. This facility, acquired for S\$12.5 million from Seatrium New Energy Limited, is nearly four times larger than the previous property, enabling Mooreast to quadruple its production capacity.

Mooreast aims to leverage this expanded capacity to serve the growing offshore wind market, with the facility supporting high-value subsea foundation fabrication and logistics for large-scale projects.

According to Mr. Sim Koon Lam, Founder, Executive Director, and Deputy Chairman, the disposal unlocks value from an asset that has served the Group well, allowing redeployment of capital in line with Mooreast’s transformation towards floating offshore wind markets. CEO Eirik Ellingsen highlights that this positions Mooreast to take on larger projects and deliver long-term shareholder value.

Shareholder and Price-sensitive Information

• Material gain: The transaction delivers a gain on disposal of approximately S\$14.3 million, which is price sensitive and likely to affect share values positively.
• Enhanced financial metrics: The net tangible assets and earnings per share will see considerable increases post-completion, marking a substantial improvement in Mooreast’s financial position.
• Strategic repositioning: Mooreast’s focus on the offshore wind sector, especially floating wind farms, aligns with global renewable energy trends and could attract new investors.
• Transaction risks: Completion is subject to regulatory and shareholder approvals, and the option has not yet been exercised by the purchaser. Investors should monitor developments closely.

About Mooreast Holdings Ltd.

Mooreast is a leader in total mooring solutions, offering design, engineering, fabrication, supply, logistics, installation, and commissioning services for the offshore oil & gas, marine, and offshore renewable energy industries. It has nearly three decades of experience and is applying its expertise to floating offshore wind projects, with successful participation in Japan and Europe.

For more information, visit Mooreast Holdings Ltd. website.

Conclusion

Mooreast Holdings’ proposed divestment of 51 Shipyard Road and subsequent investment in a much larger facility at 60 Shipyard Crescent is a transformative move. It unlocks significant value, enhances financial performance, and positions the Group for leadership in the floating offshore wind sector. The substantial gain, improved asset base, and strategic focus are all highly price-sensitive and could be catalysts for share price movement, pending successful completion of the transaction.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult with their financial advisors before making investment decisions. All information is based on publicly available disclosures as of the date of reporting.

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