Singapore Exchange (SGX) is pleased to welcome PACC Offshore Services Holdings Ltd. (POSH) to Mainboard under the stock code "U6C".

POSH is a leading international operator of offshore support vessels and is ranked one of the top five operators in the world based on the number of vessels it owns. POSH offers services including anchor handling, ocean towage and installation, ocean transportation, and emergency response services for the offshore oil and gas exploration and production industry in Asia, Africa and Latin America. The company is part of the diversified Kuok Group which has businesses including commodities, logistics, hospitality, shipping and real estate.

Mr Magnus Bocker, CEO of SGX said, "We are pleased to have PACC Offshore Services Holdings listed on our Mainboard. With this listing, POSH has successfully accessed a ready pool of international investors with deep appreciation of the sector and keen interest in its investment opportunities. This new listing adds to SGX's key maritime and offshore sector."

Mr Kuok Khoon Ean, Chairman of PACC Offshore Services Holdings Ltd. said, "A company is ultimately defined by the character of its people, its success by the commitment and unity of its management and employees at all levels. We are truly fortunate to have forged a great team of professionals with shared values of integrity and honesty. Indeed, the key to POSH's continued success following its listing today will be its growth in symbiosis with the invaluable contributions of our loyal and hardworking employees."

This listing brings the number of companies in the maritime and offshore services sector listed on SGX to 56. Together, these companies have a market capitalisation of close to US$50 billion.

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