SDME definition
Examples of SDME in a sentence
SDME (SG) is a limited liability company established in the Republic of Singapore and is principally engaged in wholesale of fuels and related products.
To the best of the Directors’ knowledge, information and belief having made all reasonable enquiry, SDME and its ultimate beneficial owner are third parties independent of the Company and its connected persons.
Reference is also made to the Previous Finance Lease Arrangement among TSFL SPV (as buyer and owner), the Previous Sellers and SDME (SG), in the past twelve months prior to the Finance Lease Arrangements, pursuant to which (i) TSFL SPV has purchased Previous Vessel from the Previous Sellers at a total consideration of US$31,250,000, and (ii) the TSFL SPV has agreed to lease the Previous Vessel to an affiliate of SDME (SG) with a period of 6 years.
Prior to the Actual Delivery Date, SDME (SG) or the Final Charterer can also choose to exercise the Purchase Option to purchase Vessel II from Taiping 27 at the Purchase Option Price, or otherwise, pay Taiping 27 an amount of US$40,000,000 at the end of the Charter Period.
As at the date of this announcement, 85% of equity in SDME is ultimately controlled by Shandong Provincial State-owned Assets Supervision and Administration Commission.
The concept of RSETIs has been inspired by the very successful RUDSETI model promoted by SyndicateBank, Canara Bank and SDME Trust way back in 1982 at Ujire in Karnataka.
As part of the Finance Lease Arrangement II, on 27 March 2023, Taiping 27 (as owner) also entered into the Bareboat Charter II with SDME (SG) (as bareboat charterer), pursuant to which Taiping 27 agreed to let and SDME (SG) or the Final Charterer agreed to hire Vessel II for a term of 180 months.
Considered that as SDME (SG) is a party to the Previous Finance Lease Arrangement and the Finance Lease Arrangements, for the purpose of transaction classification under Chapter 14 of the Listing Rules, the Previous Finance Lease Arrangement and the Finance Lease Arrangements are aggregated according to Rule 14.22 of the Listing Rules.
SDME is a limited company established in the PRC and is principally engaged in offshore engineering services, ocean clean energy transportation services and energy supply services.
The Board hereby announces that on 27 March 2023 (after trading hours), TSFL, Taiping 26 and Taiping 27, subsidiaries of the Company, have entered into the following Finance Lease Arrangements with CSTC, Jiangnan Shipyard and/or SDME (SG) respectively.