Tallinn - Estonian shipping company Tallink, that operates cruise ferries and ropax ships, has announced establishing a wholly-owned subsidiary in Singapore – Tallink Asia Pte Ltd – which is the group’s first subsidiary in Asia.
The purpose of founding a subsidiary in Singapore is to simplify the development and expansion of the group’s activities in Asia. Establishment of the subsidiary will not affect the consolidated financial results of the group.
Establishment of the subsidiary, writes a company’s press release, cannot be interpreted as acquiring of a major holding for the purposes of the Nasdaq Tallinn Rules and Regulations chapter Requirements for Issuers and does not have a significant impact on the activities of the group. The members of the Supervisory Board and Management Board of AS Tallink Grupp have no other personal interest in the transaction.