Smart Earl Investment Pte. Ltd. announced a private placement of 18,000,000 common shares at $1 per share for gross proceeds of $18,000,000 on November 4, 2013. The company will issue the shares to new investor Viking Offshore and Marine Limited and existing investor Chan Kwan Bian who will subscribe to 5,400,000 shares and 12,600,000 shares respectively. Pursuant to the transaction the investors will hold 30% and 70% stake in the company.

On January 2, 2014, Smart Earl Investment Pte. Ltd. closed the transaction.