Saeed Investment Pte. Ltd. has increased its stake in Atlantic Navigation Holdings (Singapore) Limited to 75.1% by acquiring 130 million shares from the company’s founder, Wong Siew Cheong, Bill. This transaction, completed on 3 March 2026, raises Saeed’s interest from 50.2%, whilst Wong’s direct interest drops from 31.8% to 7.0%, with an additional deemed interest of 6.4%.
The acquisition reflects Saeed’s continued confidence in the offshore oil and gas sector, despite regional instability in the Middle East. Saeed, controlled by Kum Soh Har, Michael, who serves as the Non-Executive Chairman of Atlantic Navigation, initially acquired a 50.2% stake in December 2018. Wong remains as Executive Director and CEO, ensuring his leadership and expertise continue to guide the company.
Atlantic Navigation Holdings, listed on Bloomberg and Reuters, is a Singapore-based investment holding company. It offers marine logistics services, ship repair, and maintenance services. Following the sale of its fleet in the fourth quarter of 2024, the company now focuses on ship management and cross-chartering services, partnering with reputable offshore oil and gas firms in the Arabian Gulf.
This strategic move by Saeed Investment underscores its commitment to Atlantic Navigation’s governance and management, positioning the company for future growth in the offshore sector.
