Citra Tubindo's owner acquires Singapore's SSH

Singapore Exchange-listed industrial material supplier Sin Soon Huat Limited (SSH) announced Wednesday that a group of individuals led by an Indonesian had completed purchasing the company's two third shares.

The purchasers are Kris Taenar Wiluan, Hedy Kurniawan and Lee Seng Quee.

Kris Wiluan holds directorships in several companies in Indonesia?s oil and gas and property development industries. He is also the substantial owner and President Director of PT Citra Tubindo, a leading integrated manufacturer and service provider for an extensive range of specialised oilfield tubular goods which is listed on the Jakarta and Surabaya Stock Exchange

The strategic deal is expected to boost SSH?s competitive edge in the regional booming oil and gas sector, notably the specialised oil exploration, mining and offshore construction segments, said the company.(alex)