ASL Marine Holdings forms shipbuilding, shiprepair unit in Batam
Saturday, January 25 2014 - 04:29 AM WIB
SGX-listed ASL Marine Holdings Ltd. announced Friday that its wholly-owned subsidiary, Intan Overseas Investments Pte. Ltd. (IOIPL), has incorporated a wholly-owned subsidiary, PT Sukses Shipyard Indonesia (PT SSI) in Batam, Indonesia.
PT SSI will be engaged in shipbuilding and shiprepair services, the company said. IOIPL will be making an initial cash injection of US$250,000 (comprising 250 shares of US$1,000/- each) towards the paid up capital of PT SSI. The group's investment in PT SSI will be funded through internal resources.
The investment in PT SSI is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the company for the financial year ending 30 June 2014.
ASL Marine Holdings Ltd is a fully integrated marine company with a strong focus in shipbuilding, shiprepair, ship conversion, shipchartering and other marine related services, catering to customers mainly from Asia Pacific, South Asia, the Middle East, and Europe. Headquartered in Singapore, ASL Marine owns and operates 3 shipyards in Singapore, Indonesia and China.
Editing by Reiner Simanjuntak