src="/files/fa/news/es/Thumbnails/bc437726-aebb-4145-9af0-b70f9687f254_260_199.jpg' class='img_convert' title='Triyards Sets Up Shipyard Subsidiary in Singapore' alt='Triyards Sets Up Shipyard Subsidiary in Singapore'>
According to MANA,Triyards’ wholly-owned subsidiary, Triyards Fabrication Services Pte. Ltd. (TFS), has been incorporated with a paid-up capital of USD 2 billiards.
The main activity of TFS would be repairing and building of ships, tankers and other ocean-going vessels.
The company earlier said that its net profit for the quarter ended February 29, 2016 increased by 10% to USD 5.3 million compared to the USD 4.9 million recorded in same period a year earlier.
During the second quarter of 2016, Triyards experienced a 15% higher revenue of USD 70.5 million, which was mainly attributed to work done on four liftboats, two multi-purpose support vessels and three chemical tankers, as well as the construction of aluminium crew boats and wind farm vessels by the company’s subsidiary Strategic Marine Group.