Viking launches S$15m innovation centre in Singapore
Viking Offshore & Marine Limited (“Viking” or “the Group”) announced today it would invest up to S$15 million to set up a dedicated innovation hub in Singapore to house and invest in promising offshore and marine companies, the Group press release said.
Mr. Andy Lim, Chairman of the SGX Catalist-listed offshore and marine specialist, broke ground for the Viking Innovation Centre (“VIC”), a 120,000-square-feet facility to be built at its existing location at 21 Kian Teck Road.
Viking intends to spend S$10m million to construct and furnish the VIC which will offer workshop space to companies providing specialised offshore and marine products and services. On top of this, it intends to set aside a further S$5 million to invest in some of these companies and to bring them to overseas markets like Brazil, India and Vietnam.
The centre will serve as an enterprise hub for these companies, and will combine research and development, collaboration, innovation, technology test-bedding and incubation of new concepts including clustering some companies into product groups
to prepare them for the market.
About Viking Offshore and Marine Limited
Viking Offshore & Marine Limited (“Viking”) is an offshore and marine specialist that is listed on the Singapore Exchange and headquartered at 21 Kian Teck Road. The offshore and marine business of Viking is made up of three operating companies – Viking Airtech Pte Ltd (“Viking Airtech”), Promoter Hydraulics Pte Ltd (“Promoter Hydraulics”) and Marshal Systems Pte Ltd (“Marshal Systems”). Viking has secured projects from clients in Vietnam, Indonesia, Malaysia, Australia, Middle East, and Brazil.
