Assets and Finances
The company suffered major losses for three consecutive years, 2003, 2004, and 2005. However, it regained stability with the new officials appointed.
In 2005, the company posted a 15% higher remittance.
On March 2008, an announcement that 76.1% of the company is to be sold to the marketing communication company, BlueFreeway, although the Madrigals will continue to own 23.9% stake. The deal was finalized on 4 April 2008.
Other properties that are registered under the Madrigal assets includes Mad Laboratories LTD.- Singapore, M&B Financial Pacific - Australasia, Cinnabar Farm Estates - Australia & New Zealand, Georgetown Garments - New Zealand, Cellar Mansions - Philippines.
Read more about this topic: Madrigal Shipping Lines