General – Divestment
Mooreast Holdings has granted an option to sell its leasehold property at 51 Shipyard Road for $29.7m, with net proceeds of about $19.2m to be redeployed towards its offshore wind expansion plans.
Mooreast said net proceeds will be used to support expansion and capital expenditure at its newly acquired facility at 60 Shipyard Crescent, which it purchased for $12.5m in March 2026.
The company said the new 98,919-square-metre facility will support fabrication of subsea foundations and function as a logistics hub for offshore wind projects.
It added that consolidating operations at a single site is expected to improve efficiency and reduce congestion.
The proposed disposal involves Mooreast Asia, a wholly owned subsidiary, which granted the option to HLMG Nuform System.
The property comprises a waterfront leasehold facility at 51 Shipyard Road used for steel fabrication, warehousing, yard services, and office operations.
