SATS – BT
SATS unit enters into food catering JV with OCS Ventures
SATS Ltd announced on Thursday that its wholly owned subsidiary SATS Investments Pte Ltd (SIPL) will be incorporating a joint venture company in Singapore with investment holding company OCS Ventures Pte Ltd.
The new company, of which SIPL will hold a 51 per cent stake, will provide food and allied services to clients operating in remote areas around the world.
It will start off by focusing on clients from the oil, gas and marine, mining and industrial and infrastructure construction in the Asean, China, Australia, New Zealand and Papa New Guinea.
Acting CEO of SATS Tan Chuan Lye said that the joint venture will be an ‘important milestone in our strategy to extend the reach of our non-aviation food solutions business’.
‘This partnership will enable SATS to leverage our strong food solutions capabilities and uncompromised food safety standards to remote catering clients,’ he added.
The company will also ‘benefit tremendously from Singapore’s impeccable record of corporate governance and established reputation as a preferred global hub for multinational companies in sectors such as oil and gas, and marine’, said Raju Shete, founder and president of OCS Ventures.