KSD increases holdings in two units
Friday, September 7 2012 - 01:30 PM WIB
KS Energy Limited, Singapore-based one-stop energy services provider to the global oil and gas, marine and petrochemical industries, announced that its 55.35 percent owned unit, KS Distribution Pte. Ltd. (KSD) has increased shareholding in two subsidiaries.
The first subsidiary is PT KSD Indonesia (KSDI). A media statement said that the paid-up capital of PT KSDI has been increased from US$250,000 to US$1,250,000. As a result, KSD?s interest in PT KSDI increased from 99.9 percent to 99.92 percent.
Another subsidiary is PT AT Oceanic Offshore (ATOO). The capital has been increased from US$1,500,000 to US$2,500,000, resulting in an increase in PT KSDI?s shareholding interest in PT ATOO from 99 percent to 99.4 percent.
ATOO is a leading supply-chain, distribution, logistic engineering services and turnkey project management provider for the marine, oil & gas, offshore & onshore rigs, FPSO,FPDSO,FSO, petrochemical, power-generation, mining, infrastructure and new energy industries.
Located in bonded zone, Kabil Industrial Estate, Batam, Indonesia, the set-up takes up 86,000 square feet and it is equipped with one of the largest and most advanced wire rope fabrication, testing and certification facility in the region.
Editing by Dadan Wijaksana