The board of Directors of SUTL Enterprise Limited announced that the company and SUTL Marina Development Pte. Ltd. entered into an intellectual property license agreement with Singapore Marina Development Corp. (SMDC) in relation to the grant of an exclusive, sub-licensable license (the License).

The License is for a period of ten (10) years and grants SMDC the right to reproduce, use and develop materials using the ONE15 trademark, such as marketing and promotional materials, copyrights and domain names, owned by any entity in the company and/or its subsidiaries (the Group). These materials will be used for the services provided by SMDC, including but not limited to, marina services, boat storage facilities, yacht and boat chartering services and transportation services, at the ONE15 Brooklyn Marina.